IPG Photonics (IPGP) Regains 22.5% Interest in NTO IRE-Polus for $55.4M Cash
- Market Wrap: Chinese Stock Pressure Hits U.S. Markets; Durable Orders Outpace in June; Merger Monday
- Baidu.com (BIDU) Reports Q2 EPS of $1.81
- After-Hours Stock Movers 07/27: (GIG) (MSTR) (KN) Higher; (AMKR) (CKEC) (BIDU) Lower (more...)
- Wall Street drops as China stock slump stokes growth fears
- Teva Pharma (TEVA) to Acquire Allergan Genetics (AGN) in $40.5B Cash and Stock Deal
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- American Capital Agency (AGNC) Reports Q2 Loss Per Share of $0.97
- Crane Co. (CR) Reports In-Line Q2 EPS; Trims FY15 EPS Outlook
- Arlington Asset Investment (AI) Tops Q2 EPS by 2c
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!