Oxford Instruments confirms 159 million pounds Andor Tech bid
LONDON (Reuters) - Britain's Oxford Instruments (OXIG.L) said it had made a firm offer to buy scientific camera maker Andor Technology ANTE.L for about 159 million pounds ($257 million), the same price it indicated it would be willing to pay earlier this month.
Andor said it was looking at the possible offer and would update shareholders by its full-year results on December 2.
Oxford Instruments had been in talks with Andor for some months before making its interest public on November 12, a move that Andor said was "premature" and "unhelpful" in light of the negotiations.
Oxford Instruments said on Wednesday it had confirmed its 500 pence a share bid to the Andor's board and was seeking its endorsement.
Oxford Instruments shares in London closed at 1491 pence on Wednesday. Andor shares closed at 504.5 pence, marginally above the offer price.
($1 = 0.6180 British pounds)