The sale of Beaverton, Oregon-based Planar Systems Inc. [1], global display and digital signage technology company, to Leyard American Corporation [2], a subsidiary of Leyard Optoelectronic Co. Ltd. [3], which designs, produces, and distributes a range of LED display products and its ancillary systems, has been completed.
As previously announced August 12, 2015 [4], Planar and Leyard entered into a definitive merger agreement, pursuant to which Leyard American Corporation agreed to acquire all of the common stock of Planar for a purchase price of $6.58 per share.
Planar has requested that The Nasdaq Stock Market LLC suspend trading and delist Planar common stock in connection with the closing of the merger.
BofA Merrill Lynch [5] served as financial advisor to Planar and Roth Capital Partners LLC [6] served as financial advisor to Leyard. Perkins Coie LLP [7] provided legal advice to Planar and Shearman & Sterling LLP [8] provided legal advice to Leyard.