NEW YORK, July 14, 2008 (PRIME NEWSWIRE) -- Levi & Korsinsky announces an investigation on the proposed acquisition of Excel Technology, Inc. ("Excel" or the "Company") (Nasdaq:XLTC).
On July 10, 2008, Excel announced that it has entered into a definitive merger agreement with GSI Group Inc. Under the terms of the proposal, Excel's shareholders would receive through a tender offer $32.00 per share in cash, or approximately $360 million. The tender offer is expected to commence on or about July 23, 2008. Subject to customary conditions and regulatory approvals the acquisition will be completed in the 3rd quarter of 2008. Upon closing, Excel will no longer be publicly traded. If you own common stock in Excel and wish to obtain additional information please contact us at the number listed below.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
About Excel Technology, Inc.
Excel Technology, Inc., together with its subsidiaries, designs, manufactures, and markets laser systems and electro-optical components, primarily for industrial and scientific applications.