Oxford Instruments increases Andor offer

LONDON Fri Dec 6, 2013 1:56pm EST

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LONDON Dec 6 (Reuters) - British technology company Oxford Instruments on Friday increased its offer for Andor Technology to 525 pence per share, saying it was the final bid it would submit to the digital camera maker's board for approval.

Oxford Instruments, which designs and manufactures tools for industry and research, had offered 500p per share in cash for Andor Technology last month to gain access to its scientific digital cameras.

Andor Technologies had said on Monday it was disappointed Oxford had not raised its offer from the price it had indicated it was willing to pay earlier in November, and urged its shareholders to take no action regarding the offer.

"This is Oxford Instruments' final proposal and is subject only to the recommendation of the board of Andor," Oxford said on Friday about its higher bid, which values Andor's share capital at 169 million pounds ($276.4 million).

A spokesman for Andor declined comment.

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