IPG Photonics (IPGP) Regains 22.5% Interest in NTO IRE-Polus for $55.4M Cash
- Charter Communications (CHTR) to Acquire Time Warner Cable (TWC) for ~$196/Share in Cash, Stock
- Twitter (TWTR) Held Talks to Acquire Flipboard for $1B in Stock - Report
- Pre-Open Stock Movers 05/26: (GKNT) (LPSN) (TWC) Higher; (ETSY) (FSLR) (HBAN) Lower (more...)
- Priceline (PCLN) Will Make Additional $250M Investment in Ctrip.com (CTRP)
- Barrick Gold (ABX), Zijin Mining Enter Strategic Partnership; Zijin Will Acquire 50% of Barrick Niugini
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
- EMC Corp. (EMC) to Acquire Virtustream in ~$1.2B Deal
- Northland Capital Markets Raised Price Target on LogMeIn (LOGM) After Speaking with Management
- Sky Solar Holdings (SKYS) Tops Q1 EPS by 12c
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!