One event that I look forward to every year is the Kulicke and Soffa luncheon. In a closed room, around a large square of tables sit competitive reporters. During this time Scott Kulicke answers the questions of the attending reporters and journalists. In this Round Robin format, Kulicke talked about his company’s approach to advanced packaging. Here are few of his comments:
(July 16, 2004) Irvine, Calif.—Newport Corporation completed today its acquisition of Spectra-Physics for $300 million. The final price is subject to a post-closing net asset adjustment.
Spectra-Physics represents substantially all of the optical technologies business of Thermo Electron. The purchase price is comprised of $200 million in cash, a $50 million promissory note bearing 5% interest and payable in 2009, and 3.2 million shares of Newport Corporation common stock, which are valued at $50 million based on the average share price of $15.53 for the 20 trading days that ended two days prior to the closing of the transaction.