IPG Photonics (IPGP) Regains 22.5% Interest in NTO IRE-Polus for $55.4M Cash
- Apple, Inc. (AAPL) Tops Q2 EPS by $1.44; Announces 7-for-1 Stock Split
- Pre-Open Stock Movers 4/24: (ZMH) (ANGI) (AAPL) Higher; (SILC) (QCOM) (UA) Lower (more...)
- Zimmer (ZMH) to Acquire Biomet in ~$13.35B Deal
- UPS (UPS) Misses Q1 EPS by 10c; Sees FY14 EPS at Low-End of Range
- Herbalife (HLF) Questions Ackman's Campaign Following ABC News Report
IPG Photonics Corporation (Nasdaq: IPGP) purchased the outstanding 22.5% minority interest in its Russia-based subsidiary, NTO IRE-Polus (NTO), that it previously sold to Open Joint Stock Company “Rusnano.” IPG regained complete control of NTO for $55.4 million in cash. The Company expects the transaction to be accretive starting in the third quarter of 2012. The net income attributed to Rusnano's non-controlling interest in NTO had resulted in a reduction to IPG Photonics’ earnings of $0.07 per diluted share in 2011 and $0.01 per diluted share in the first quarter of 2012.
You May Also Be Interested In
- UPDATE: Bank of New York (BK) Weighing Sale of Corporate Trust Unit - Report
- Knightsbridge Tankers (VLCCF) Higher on Deal to Combine with Frontline 2012 Ltd.
- Men's Wearhouse (MW) Extends Jos. A. Bank (JOSB) Tender Offer to May 7, 2014
Create E-mail Alert Related CategoriesMergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!