The Sumitomo Chemical Company is to acquire Cambridge Display Technology, the UK-based developer of polymer organic light emitting diodes (P-OLEDs).
Under the merger agreement, Sumitomo Chemical will acquire all outstanding shares of CDT common stock at a price of $12 per share in cash, for an aggregate purchase price of approximately $285m.
Completion of the merger is subject to CDT stockholder approval and other customary closing conditions.
The acquisition is expected to close during the third or fourth quarter of 2007.
Report highlights significant impact of manufacturing on UK economy
Note to Evil Villain/Dave 2020. Thatcher was PM for _11_ years, from 1979 to 1990 so no one under the age of 34 was even born when she left office....