Photon Control Inc. - CEO, Nigel Hunton.
CEO, Nigel Hunton.
Source: YouTube (Footdown Ltd).
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  • MKS Instruments has acquired Photon Control (PHO) for C$387 million in an all cash transaction
  • Upon closing, Photon shareholders will receive $3.60 per share and the company’s shares will be delisted from the TSX
  • The transaction is scheduled to close on July 15, 2021
  • MKS Instruments is a global provider of instruments and systems that measure and deliver critical parameters of advanced manufacturing processes
  • Photon Control designs, manufactures and distributes a range of optical sensors and systems to measure temperature and position
  • Photon Control (PHO) is up by 0.28 per cent and is currently trading at $3.59 per share

MKS Instruments has acquired Photon Control (PHO) for C$387 million in an all cash transaction.

The companies have obtained a final order from the Supreme Court of British Columbia approving the plan of arrangement.

Pursuant to the arrangement, MKS will acquire all of Photon’s issued and outstanding shares through 1302998 B.C. Ltd., its wholly owned subsidiary.

Upon closing, Photon shareholders will receive $3.60 per share, less interest and applicable withholding taxes, and the company’s shares will be delisted from the TSX.

Photon shareholders approved the arrangement on June 29, 2021.

The transaction is scheduled to close on July 15, 2021.

MKS Instruments is a global provider of instruments and systems that measure and deliver critical parameters of advanced manufacturing processes.

Photon Control designs, manufactures and distributes a range of optical sensors and systems to measure temperature and position.

Photon Control (PHO) is up by 0.28 per cent and is currently trading at $3.59 per share as of 9:30 am ET.

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