LTX-Credence Receives Notice from Verigy

LTX-Credence Corporation LTXC today announced that it has received notification from Verigy Ltd. VRGY, pursuant to the definitive merger agreement between LTX-Credence and Verigy, that the Verigy Board of Directors has determined that Verigy has received a “Superior Offer” from Advantest Corporation ATE within the meaning of the merger agreement, and that the Verigy Board intends to effect a “change of recommendation” to its shareholders regarding its merger with LTX-Credence. LTX-Credence is exploring all rights and remedies available to it under the merger agreement, with the express purpose of preserving shareholder value.