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Spectra Physics Inc

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BUSINESS
May 27, 1987
Ciba-Geigy Ltd., a Swiss chemicals and pharmaceuticals giant, said it has offered to acquire Spectra-Physics Inc. of San Jose for $32 a share. On Wall Street, however, there were expectations of a possible higher bid as Spectra's stock price soared above the Ciba-Geigy offer. The stock jumped $9.875 a share to $33.50 on the New York Stock Exchange. Ciba-Geigy already owns 1.44 million, or 18.8%, of Spectra's 7.65 million total common shares outstanding.
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BUSINESS
June 16, 1987 | Associated Press
Laser maker Spectra-Physics Inc. has agreed to a sweetened $226.67-million takeover offer from Swiss chemical giant Ciba-Geigy Ltd. after rejecting as inadequate a $198.76-million bid from its largest shareholder. The cash agreement announced on Monday appeared to end prospects of a bidding war for Spectra-Physics between Ciba-Geigy and Reliance Financial Corp., a Spectra-Physics shareholder owned by takeover strategist Saul P. Steinberg.
BUSINESS
September 29, 1988 | JAMES F. PELTZ, Times Staff Writer
Patlex Corp. said Wednesday that Spectra-Physics Inc., the world's biggest laser manufacturer, has agreed to pay it royalties on its long-disputed laser patents. The deal represents a major financial boost for the $17-million-a-year Chatsworth company. Patlex receives 64% of the royalty income from laser patents held by Gordon Gould, a laser pioneer and Patlex vice chairman.
BUSINESS
September 29, 1988 | JAMES F. PELTZ, Times Staff Writer
Patlex Corp. said Wednesday that Spectra-Physics Inc., the world's biggest laser manufacturer, has agreed to pay it royalties on its long-disputed laser patents. The deal represents a major financial boost for the $17-million-a-year Chatsworth company. Patlex receives 64% of the royalty income from laser patents held by Gordon Gould, a laser pioneer and Patlex vice chairman.
BUSINESS
July 26, 1988 | JAMES F. PELTZ, Times Staff Writer
Frank Borman has had quite a career. Fighter pilot, astronaut who circled the moon on the Apollo 8, head of Eastern Airlines for a decade. Borman, 60, now has a new job: chairman of Patlex Corp., a small laser company in Chatsworth, and at first glance his credentials seem out of place there. But a closer look indicates that Borman's experience and fame might be the right stuff for Patlex.
BUSINESS
June 2, 1987
The San Jose-based firm, a leading manufacturer of lasers, rejected the $32 per share, or $194.7 million, takeover offer from the Swiss pharmaceuticals giant. Ciba-Geigy Ltd. already holds 18.8% of the company. Spectra-Physics' board voted to reject the offer as financially inadequate, unfair and not in the best interests of Spectra-Physics or its stockholders. The firm said it also filed a suit in Delaware federal court seeking to block the offer.
BUSINESS
December 23, 1987
Gary A. McCue, 51, has been named vice president and controller for Avery International Corp., the office supply manufacturer headquartered in Pasadena. McCue previously was vice president and treasurer for Spectra-Physics Inc. in San Jose.
BUSINESS
July 26, 1988 | JAMES F. PELTZ, Times Staff Writer
Frank Borman has had quite a career. Fighter pilot, astronaut who circled the moon on the Apollo 8, head of Eastern Airlines for a decade. Borman, 60, now has a new job: chairman of Patlex Corp., a small laser company in Chatsworth, and at first glance his credentials seem out of place there. But a closer look indicates that Borman's experience and fame might be the right stuff for Patlex.
BUSINESS
June 16, 1987 | Associated Press
Laser maker Spectra-Physics Inc. has agreed to a sweetened $226.67-million takeover offer from Swiss chemical giant Ciba-Geigy Ltd. after rejecting as inadequate a $198.76-million bid from its largest shareholder. The cash agreement announced on Monday appeared to end prospects of a bidding war for Spectra-Physics between Ciba-Geigy and Reliance Financial Corp., a Spectra-Physics shareholder owned by takeover strategist Saul P. Steinberg.
BUSINESS
June 2, 1987
The San Jose-based firm, a leading manufacturer of lasers, rejected the $32 per share, or $194.7 million, takeover offer from the Swiss pharmaceuticals giant. Ciba-Geigy Ltd. already holds 18.8% of the company. Spectra-Physics' board voted to reject the offer as financially inadequate, unfair and not in the best interests of Spectra-Physics or its stockholders. The firm said it also filed a suit in Delaware federal court seeking to block the offer.
BUSINESS
May 28, 1987
Ciba-Geigy Ltd., the Swiss chemicals and pharmaceuticals giant, said it has offered to acquire Spectra-Physics Inc. of San Jose for $32 a share. On Wall Street, however, there were expectations of a possible higher bid as Spectra's stock soared above the Ciba-Geigy offer. The stock jumped $9.875 a share, to $33.50, in afternoon trading on the New York Stock Exchange. Ciba-Geigy already owns 1.44 million, or 18.8%, of Spectra's 7.65 million total common shares outstanding.
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