Chelmsford and Billerica, MA – Automation firms Brooks Automation Inc. and PRI Automation Inc. have been notified by the Department of Justice that it has completed its review of the pending acquisition of PRI by Brooks, and that the transaction may proceed.
Brooks and PRI have mailed a joint proxy statement/prospectus for the Brooks annual meeting of stockholders and a special meeting of PRI stockholders, both to be held on May 13, 2002.
The Brooks stockholder meeting will be held at 10:00 a.m., Eastern Standard Time, at its corporate headquarters in Chelmsford. The PRI stockholder meeting will be held at 2:00 p.m., EST, at the offices of Foley, Hoag & Eliot LLP in Boston. Assuming stockholder approval by both companies, the acquisition is expected to be completed on May 14, 2002.
Due to regulatory delays in completion of the transaction, Brooks now expects that realization of the anticipated operational synergies from the combination will be delayed, and that the transaction will become accretive to Brooks earnings in the second half of fiscal 2003. Further guidance for the combined companies will be provided following the close of the acquisition.