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Monday, March 28, 2011

Verigy cancels plan to purchase LTX-Credence

Semiconductor testing company Verigy Ltd said on Sunday it is terminating its plan to buy smaller rival LTX-Credence Corp , a move that would allow Verigy to sell itself to Japan's Advantest Corp . Verigy had earlier said a $908 million buyout offer it received from Advantest was a better deal than the U.S. company's pending agreement to buy LTX-Credence. [ID:nL3E7EM022] Verigy said it paid LTX-Credence a termination fee of $15 million.

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