eMagin gains on merger deal with Samsung Display

eMagin

17/05/2023 15:27

** Shares of OLED micro display maker eMagin Corp  EMAN.A 
up 5.8% at $2.01
    ** Company enters into merger deal with Samsung Display, a
unit of Samsung Electronics Co  005930.KS  and a manufacturer
and distributor of display products
    ** All outstanding shares of EMAN to be bought for $2.08 per
share in cash, in a deal valued at about $218 mln
    ** Offer represents a 10.1% premium to EMAN's last close of 
$1.89
    ** eMagin's board of directors has unanimously approved the
transaction
    ** Including session's gains, EMAN stock has more than
doubled YTD

 (Reporting by Raechel Thankam Job in Bengaluru)
 ((RaechelThankam.Job@thomsonreuters.com))