From the Boston Globe Business Team
ADE shareholders approve merger
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July 13, 2006 03:45 PM
Shareholders of ADE Corp. of Westwood approved the company's proposed sale to KLA-Tencor Corp. of San Jose, Calif., for $32.50 per share in cash.
ADE makes semiconductor components. Ninety-nine percent of the votes cast at a special shareholders' meeting today were in favor of the deal, which still faces a regulatory hurdle overseas. KLA-Tencor said on Monday that German antitrust investigators were looking into the merger, an investigation that could hold up the sale.
A closing date for the transaction has not been set.
In afternoon trading on the Nasdaq Stock Market, ADE shares were down 6 cents, or 0.2 percent, to $31.93. KLA-Tencor shares were down 38 cents, or 0.1 percent, to $40.61.
(By Keith Reed, Globe staff)
