Cree (NASDAQ:CREE) is acquiring Ruud Lighting, a maker of outdoor LED lighting products, for...

Cree (NASDAQ:CREE) is acquiring Ruud Lighting, a maker of outdoor LED lighting products, for $525M in cash and stock. Following the acquisition, which Cree expects to be accretive to non-GAAP FY12 earnings, the company expects FQ1 2012 EPS to be at the low end of its prior guidance range of $0.25-$0.28. CREE -4.6% AH. (PR)