Northern Ireland's camera maker Andor Technology has refused a takeover offer from English firm Oxford Instruments, BBC News reported. According to the report, Oxford Instruments had offered GBP5 per share, valuing the company at about GBP166 million.
Andor chief executive Conor Walsh on Monday said the company was disappointed that Oxford Instruments was not able to increase its offer. Andor is currently reviewing its strategic options, but still remains in discussion with the English manufacturer, he added.
Reuters previously reported that Oxford Instruments had been in talks with Andor for some months before making its interest public on November 12. The company designs and manufactures tools for industry and research.
Meanwhile, Andor's financial results show that profit has dropped to GBP7 million in 2013 from over GBP10 million last year. The scientific digital camera maker is now one of the three companies in Northern Ireland to be listed on the stock exchange, BBC News said.
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