Seagate Technology (STX) said Monday it has completed its purchase of Intevac (IVAC), paying $4 per share in cash for the thin-film processing systems supplier.
Closing of the deal follows Intevac investors tendering nearly 24 million of their shares, representing roughly 88% of the company's outstanding shares, by the March 28 deadline, Seagate said.
Intevac became a wholly owned subsidiary of Seagate and its shares ceased trading on the Nasdaq Global Select Market prior to Monday's opening bell and were delisted, Seagate said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.