PLYMOUTH — The industrial laser maker Rofin-Sinar Technologies Inc. (Nasdaq: RSTI) said its shareholders have agreed to a $942 million buyout by Santa Clara, Calif.-based Coherent Inc. (Nasdaq: COHR).
The company said holders of more than 95 percent of Rofin-Sinar’s shares present at a special meeting of shareholders voted in favor of the transaction. That represents more than 74 percent of the outstanding shares of the company’s stock.
Coherent announced a $32.50-a-share cash offer for Rofin on March 16. Rofin stockholder approval was a condition to the closing of the merger. The completion of the transaction remains subject to the satisfaction of other conditions, including the receipt of regulatory approvals and the completion of Coherent’s financing. Rofin continues to anticipate that the transaction will be completed by Dec. 31.
There was no immediate word on the future of Rofin’s Plymouth operations.
Rofin manufactures single laser-beam sources to highly complex systems, covering all of the key laser technologies such as solid-state, fiber, ultrashort pulse and CO2 lasers, as well as diode lasers, and the entire power spectrum, from single-digit watts up to multi-kilowatts, as well as a comprehensive spectrum of wavelengths or pulse durations and an extensive range of laser components.
Rofin has headquarters offices in Plymouth and Hamburg, Germany, with manufacturing in the United States, Germany, the United Kingdom, Sweden, Finland, Switzerland, Singapore and China. Rofin has more than 55,000 laser units installed worldwide and serves more than 4,000 customers. More at www.rofin.com.