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Advantest to aquire Verigy?

08 December 2010 – Verigy announced that it has received an unsolicited proposal from Advantest Corporation to acquire all of the outstanding Verigy ordinary shares in cash. In November Verigy announced a definitive merger agreement with competitor LTX-Credence.

The Verigy Board has reviewed the Advantest proposal and determined that it is not superior to Verigy’s pending transaction with LTX-Credence. However, the Verigy Board believes the Advantest proposal might lead to a superior transaction so it has determined to engage in discussions with Advantest. There can be no assurances that any definitive agreement or transaction will result from the Advantest proposal or Verigy’s discussions with Advantest.

The Verigy Board continues to believe in the compelling strategic and financial merits of its proposed transaction with LTX-Credence, and continues to recommend the LTX-Credence transaction to its shareholders. The Verigy Board is not withdrawing its recommendation with respect to the LTX-Credence transaction, or proposing to do so, and is not making any recommendation with respect to the Advantest proposal.

www.verigy.com


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