Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Verigy (Nasdaq: VRGY ) popped 11% in intraday trading today after disclosing that the regulatory waiting period for its planned acquisition by Advantest (NYSE: ATE ) has passed without any objections from the Department of Justice.
So what: In March, the two test equipment companies announced an agreement for Advantest to acquire Verigy for $15 per share in cash. The deal price was 64% above Verigy's closing price when news of an offer from Advantest broke on Dec. 3, 2010.
Now what: After deal discussions became public in December, Verigy's stock generally traded above $14 on relatively high confidence the deal would be completed. Although Korean and Taiwanese authorities had already approved the transaction, the stock traded as low as $13.13 Thursday, on concerns the deal would not pass the Department of Justice's antitrust test. The next test is June 17, when Verigy shareholders vote on the deal.
Interested in more info on VRGY? Add it to your watchlist by clicking here.