BEDFORD, Mass., Aug. 29 /PRNewswire-FirstCall/ -- GSI Group Inc.,
(Nasdaq: GSIG) announced today that it has completed its acquisition of
Excel Technology, Inc. ("Excel") pursuant to a short-form merger in which
an indirect wholly owned acquisition subsidiary of GSI was merged with and
into Excel, with Excel continuing as the sole surviving corporation and as
an indirect wholly owned subsidiary of GSI. GSI previously announced the
acquisition of approximately 92.78% of Excel's outstanding common stock
pursuant to a cash tender offer. In connection with the merger, all
outstanding shares of Excel's common stock not tendered in the tender offer
(other than shares as to which appraisal rights are properly demanded under
Delaware law, if any), were converted into the right to receive the same
$32.00 cash per share, without interest, that was paid in the tender offer.
As a result of the merger, Excel's common stock will no longer be traded on
the Nasdaq Stock Market or any other public trading market.
About GSI Group Inc.
GSI Group Inc. supplies precision technology to the global medical,
electronics, and industrial markets and semiconductor systems. GSI Group
Inc.'s common shares are listed on Nasdaq (GSIG).
Contact:
Robert Bowen
781-266-5643
rbowen@gsig.com
SOURCE GSI Group Inc.
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Related links:
http://www.gsig.com
http://www.prnewswire.com/comp/107189.html/
CONTACT:
Robert Bowen of GSI Group Inc.,
+1-781-266-5643, rbowen@gsig.com
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