Bids to low to entice Laser Power sale

Feb. 21, 2000

Laser Power Corp. (San Diego, CA) has discontinued discussions with unnamed potential bidders for the company, saying that the potential bids were too low in comparison with recent market values for the company's common stock. In the past year, Laser Power has struggled against a hostile takeover attempt by II-VI (Saxonburg, PA) and has also seen some of its stock bought by Union Miniäre (Brussels, Belgium). Laser Power expects to sell assets of its display and 1550-nm microlaser contract research operations soon, according to CEO Dick Sharman.

About the Author

John Wallace

Senior Technical Editor (1998-2022)

John Wallace was with Laser Focus World for nearly 25 years, retiring in late June 2022. He obtained a bachelor's degree in mechanical engineering and physics at Rutgers University and a master's in optical engineering at the University of Rochester. Before becoming an editor, John worked as an engineer at RCA, Exxon, Eastman Kodak, and GCA Corporation.