Cree Inc. To Buy LED Lighting Fixtures For $77M In Cash, Stock By Tom Rojas Last update: 7:32 a.m. EST Feb. 8, 2008 Print RSS Disable Live Quotes Cree Inc. (CREE: 34.04, +1.82, +5.7%) said it signed a definitive agreement to buy privately held LED Lighting Fixtures Inc. (LLF) for about $77 million in cash and stock, plus up to an additional $26.4 million over a three-year period tied to new product milestones and key-employee retention. The number of shares to be issued will be based on Cree's average closing share price over the last 20 trading days, which is $28.32 per share. The Durham, N.C., company said Friday the acquisition will provide "direct access to the lighting market." With the purchase, the company's business will encompass light-emitting diode chips, components and lighting products. Cree expects the acquisition to add $30 million of revenue in fiscal 2009. It anticipates the deal will be slightly dilutive to GAAP per-share earnings, but add slightly to non-GAAP earnings per share. http://www.marketwatch.com/news/story/cree-inc-buy-led-lighti...
$34.15 (02/12/08)
