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Fly News Breaks for March 20, 2018
KLAC, ORBK
Mar 20, 2018 | 07:50 EDT
Oppenheimer analyst Andrew Uerkwitz is removing his Outperform rating on Orbotech (ORBK) and moving to Not Rated after the company announced that KLA-Tencor (KLAC) will acquire the company for $38.86 in cash and 0.25 of a share of KLA-Tencor common stock in exchange for each ordinary share of ORBK, implying a total consideration of approximately $69.02 per share.
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