The market’s downturn could make closing difficult for display company.
BY JACOB PALMER | DIGITAL NEWS EDITOR
The market’s downturn could make closing the sale difficult for Planar.
Planar sold to the Chinese company Leyard Optoelectronic Co. in August at $6.58 a share in cash. Since then, the stock market has trended downward and the Hillboro company’s stock sits at $5.53.
“That’s such a large discount there has to be concerns out there that this deal may not close,” said Thomas Diffely, a senior research analyst with D.A. Davidson in Lake Oswego. Diffely doesn’t track Planar specifically, but is a veteran stock analyst who has spent years observing the financial markets.
Neither Leyard nor Planar responded to requests for comment, but Diffely said the troubled Chinese economy may be a factor.
“There’s a lot of concern right now just about China in general,” he said.
(SOURCE: OregonLive.com)
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