Andor Technology reportedly ends buyout talks

JANUARY 23, 2009--Reuters news agency reports that scientific imaging company Andor Technology Plc ended talks with a third party on a possible offer for the company, saying it did not receive any proposal that satisfied the prospects of its business.

Jan 23rd, 2009

JANUARY 23, 2009--Reuters news agency reports that scientific imaging company Andor Technology Plc (Belfast, UK; www.andor.com) ended talks with a third party on a possible offer for the company, saying it did not receive any proposal that satisfied the prospects of its business.

The company also said on Thursday it was no longer in talks with any other party regarding a potential offer.

Separately, Photonis Holding SAS (Mérignac, France; www.photonis.com) confirmed it had proposed to buy Andor for 90 pence (US$1.22) per share in cash, and that it was still considering its options for a possible offer.

Photonis, an imaging sensors maker, is owned by Astorg Partners, an independent French fund management company based in Paris.

In a statement, Andor said first-quarter trading has been strong and has exceeded its expectations, helped by a weak sterling.

The order book remains strong and it has full visibility on orders to the half year, Andor said. Andor shares were up 2.3% at 66.5 pence (US$0.90) at 1622 GMT after touching a high of 70.75 pence (US$0.96) earlier on the London Stock Exchange.

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