Merger News in the Technology sector

UK competition watchdog the Office of Fair Trading (OFT) is considering whether to review the planned merger of mobile phone companies Orange and T-Mobile after the two firms submitted their proposal to European regulators. The body has until 15 February to make a ruling on the matter. [more]

Sumitomo Chemical Company and Cambridge Display Technology have announced that they have entered into a definitive merger agreement whereby Sumitomo Chemical will acquire CDT, a developer of technologies based on polymer organic light emitting diodes. Under the merger agreement, Sumitomo Chemical will acquire all outstanding shares of CDT common stock at a price of $12 per share in cash, for an aggregate purchase price of approximately $285 million.  The merger consideration represents a 107 percent premium over CDT's 90-day average closing share price and a 95 percent premium over CDT's closing share price of $6. [more]