Lumonics and GSI to join forces

Article Abstract:

Lumonics Inc., a Kantana, Ontario-based manufacturer of laser-based manufacturing equipment, has reached a deal to merge with General Scanning Inc. (GSI), also a maker of laser-based systems, to create a a new company called GSI Lumonics Inc. The merger, which is still subject to approval of shareholders for both firms and regulators, is expected to create the largest producer of laser-based manufacturing systems in the world, with annual sales of approximately $330 million. Terms of the deal allow GSI shareholders to get 1.347 shares of Lumonics for every GSI share they own, with Lumonics shareholders expected to get the same number of shares.

Comment:

Reaches deal to merge with Lumonics Inc to create a new company called GSI Lumonics Inc

Organizational history

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Gap appears in Lumonics/GSI shares

Article Abstract:

Lumonics Inc.'s union with Watertown, MA-based General Scanning Inc. (GSI) is not welcome by a number of investors from both sides based on a 5%-difference between the firms' share prices. Kanata, Ontario-based Lumonics, whose merger with GSI is expected to create the biggest maker of laser-based manufacturing equipment in the world, was trading at C$7.25 per share on the Toronto Stock Exchange on Nov. 13, 1998. Some analysts see the high trading price for the firm's share, which should only be trading at C$6.90, as a sign of dissatisfied investors.

Comment:

Its union with Kanata, Ontario-based Lumonics Inc is not welcome by a number of investors from both sides

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Delay hits GSI Lumonics

Article Abstract:

GSI Lumonics Inc. announced it slashed its revenue expectations by as much as 5% for the coming fiscal year and cut its work force because of a delay in the devlopment of a new product for the auto industry. The company said that the product delay indicates that the firm must bring expenses in line with revenue expectations, and that this will lead to the elimination of roughly 80 jobs in Rugby, England, and in support positions globally.

United Kingdom, Labor force information, Sales, profits & dividends, World, Finance, Laser industry

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