Zetex, still open for Business6 Apr 2008 13:57
Proof of how Stocks can Dip but still be worth Value. Down since October '07 and shooting up on Friday.
Zetex Plc. said Diodes has made a recommended 85.45 pence per share offer for the company, valuing it at 89.1 million pounds. The offer price represents about 96 percent premium to the closing Zetex share price on April 3, 2008. Diodes said it has received irrevocable undertakings of 56.5 percent for Zetex and added the acquisition will create significant economies of scale anD cost savings.
Liz Airey, chairman of Zetex, said: "The combination will enable the Zetex business to accelerate our growth in Asia Pacific whilst Diodes will benefit from our strength in Europe."