Cymer Stock Continues to See Gains After Oct. Merger AnnouncementFriday, January 25, 2013
Shares of San Diego’s Cymer Inc., the makers of laser equipment used in the manufacture of semiconductors, gained $2 to close at $98.70 on Jan. 24 on the Nasdaq exchange, and have been rising steadily since the company announced merging with Holland’s ASML Holding NV in October.
After the acquisition was announced Oct. 17, shares of the firm, traded under CYMI, soared 51 percent over the previous day’s closing price to $71, and it’s been trending upwards since then. Shares are up 91 percent over the full 52 weeks, among the best performers of local stocks.
Given the most recent stock price, Cymer’s market capitalization is now above $3 billion.
Under the agreement, Cymer shareholders will get $20 in cash and 1.15 shares of ASML stock on each of their shares. On an aggregate basis the deal was estimated last year at $2.5 billion.
The transaction that will maintain Cymer’s operations at its Rancho Bernardo office was said to be on track and is expected to be completed sometime in the first half of this year.