Semiconductor testing company, Verigy, is cancelling its plan to acquire smaller rival, LTX-Credence. The company paid LTX-Credence a termination fee of $15 million, as per the merger agreement. Verigy had decided to buy LTX-Credence for about $424.4 million in November 2010, adds Reuters. The move comes as the company preferred a $908 million buyout offer it received from Advantest over its pending agreement to buy LTX-Credence.
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