Cambridge Display Technology Agrees to Sumitomo Chemical Buyout

| About: Cambridge Display (OLED)

Cambridge Display Technology (OLED) agreed to be purchased by Sumitomo Chemical Co. for $12 per share on July 31, 2007.

This merger has been moving quickly toward completion, partially due to the lack of regulatory approvals required.

According to a SEC filing Cambridge Display Technology submitted yesterday, the companies believe that the deal does not need approval from any governmental agency, including antitrust approval.

Cambridge Display Technology also announced that the shareholder vote on the deal has been scheduled for September 19, 2007.

The companies expect that the deal will close in the fourth quarter of 2007, possibly in late summer or early fall.

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