Planar Systems complete $157 million sale.
BY JACOB PALMER | DIGITAL NEWS EDITOR
Planar Systems completed its $157 million sale on Friday.
The acquisition marks another blow for the Oregon electronic display cluster, writes Mike Rogoway of the Oregonian.
Planar sold for $6.58 a share, a 42 percent premium over its price before announcing its sale to Leyard Optoelectronic Co. last August. The deal appeared in doubt amid the Chinese economic crisis last summer, and Planar’s share price significantly lagged the deal price for months.
However, the gap had closed in recent weeks and shareholders voted to approve the transaction earlier this month.
Planar has said Leyard will retain its brand name and Hillsboro headquarters, along with roughly 250 Oregon employees.
(READ MORE: OregonLive.com)
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