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January 14, 2013
12:00 EDTADEPAdept Technology rises 21.1%
Adept Technology is up 21.1%, or 70c, to $4.01
News For ADEP From The Last 14 Days
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September 23, 2015
09:02 EDTADEPOMRON commences $13 per share tender offer for Adept Technology shares
OMRON Corporation announced that its indirect wholly-owned subsidiary, Hoffman Acquisition Corp., has launched its previously announced cash tender offer at $13.00 per share for all shares of Adept Technology's common stock. On September 16, 2015, the parties announced that they had signed a definitive merger agreement and that the tender offer would follow. The boards of directors of both companies unanimously approved the terms of the merger agreement, including the tender offer, and Adept's board of directors recommended that Adept's stockholders tender their shares into the offer. Under the terms of, and subject to the conditions set forth in the merger agreement, as soon as practicable following the acceptance of shares in the tender offer, Hoffman Acquisition Corp. will merge with and into Adept pursuant to Section 251(h) of the General Corporation Law of the State of Delaware. All issued and outstanding shares of Adept's common stock, other than shares held in the treasury of Adept or owned, directly or indirectly, by OMRON or any subsidiary of OMRON, or shares held by Adept's stockholders who are entitled to demand and properly demand appraisal of such shares pursuant to Delaware law, will be canceled and converted in the merger into the right to receive $13.00 per share in cash. The completion of the tender offer is subject to, among other things, at least a majority of all then outstanding shares of Adept's common stock being tendered into the offer, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the receipt of required foreign antitrust approvals. OMRON will fund the tender offer through cash on hand. The tender offer and withdrawal rights are scheduled to expire at 5:00 p.m., New York City time, on October 22, 2015, unless extended. All of the members of Adept's board of directors and executive officers, as well as Hale Capital Management, LP and certain of its affiliates, who collectively hold approximately 9.30% of the issued and outstanding shares of Adept's common stock, have entered into agreements to tender their shares into the offer.

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