SANTA CLARA, Calif., May 23 /PRNewswire-FirstCall/ -- Coherent, Inc.
(Nasdaq: COHR) today announced the status of regulatory approvals for its
acquisition of Excel Technology, Inc. John Ambroseo, Coherent's President
and CEO said, "We received clearance from the U.S. Department of Justice
under the Hart-Scott-Rodino Antitrust Improvements Act on May 9, 2006.
Given our revenue base in Germany, we were required to file an application
for approval with the German Federal Cartel Office (FCO). The FCO has not
yet reached a final determination with regard to the merits of our
application. While we can not close the transaction without FCO approval,
we are optimistic that the FCO will clear the acquisition in due course and
permit us to complete the acquisition of Excel prior to the end of the
quarter. Coherent and Excel are fully cooperating with the FCO's
investigation."
The statements in this press release that relate to future plans,
events or performance, including statements such as we are confident of FCO
regulatory clearance and the timing of such clearance by the end of the
quarter are forward-looking statements. Factors that could cause actual
results to differ materially include risks and uncertainties, including
risks associated with the FCO regulatory clearance process and the timing
of its investigation and the ability of Coherent and Excel to successfully
work with the FCO in its investigation and other risks identified in the
Company's SEC filings. Actual results, events and performance may differ
materially. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof. The
Company undertakes no obligation to update these forward-looking statements
as a result of events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
Readers are encouraged to refer to the risk disclosures described in
the Company's reports on Forms 10-K, 10-Q and 8-K, as applicable.
Founded in 1966, Coherent, Inc. is a Standard & Poor's SmallCap 600
company and a world leader in providing photonics based solutions to the
commercial and scientific research markets. Please direct any questions to
Leen Simonet, Chief Financial Officer at 408-764-4161. For more information
about Coherent, visit the Company's Web site at http://www.coherent.com/
for product and financial updates.
SOURCE Coherent, Inc.
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Related links:
http://www.coherent.com/
CONTACT:
Leen Simonet of Coherent, Inc.,
+1-408-764-4161
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