Cymer Inc., the San Diego maker of laser equipment used in the production of semiconductors, said its shareholders overwhelmingly approved the sale of the company to Holland-based ASML N.V. at a special meeting Feb. 5.
More than 82 percent of the shares outstanding and 99 percent of the votes cast at the meeting were in favor of the transaction that was first announced Oct. 16.
The deal calls for ASML, which is Cymer’s largest customer, to pay $20 in cash and a fixed ratio of 1.1502 shares of ASML’s common stock for each share of Cymer.
That puts the deal value at about $2.5 billion.
Completion of the transaction, expected in the first half of this year, is still subject to customary closing conditions including expiration of the Hart-Scott-Rodino antitrust waiting period and receipt of approvals under other foreign competition laws, the company said.
Founded in 1986 by two graduates of UC San Diego, Cymer has about 1,200 full-time global employees, including 900 at its Rancho Bernardo headquarters.
— Mike Allen