Denmark rejects European subsidiary’s bid to acquire NKT Photonics

Japan’s Hamamatsu Photonics KK said on Monday that Danish authorities had rejected a European subsidiary’s application to acquire Copenhagen-based fibre laser manufacturer NKT Photonics A/S from NKT A/S.

Hamamatsu Photonics had announced plans for the takeover last June for about 205 million euros ($226 million) to expand application of its laser diode business based on compound semiconductor manufacturing technology. NKT Photonics’ lasers could be used for inspection of cutting-edge semiconductor devices, among other applications, it had said.

“We are currently considering further actions in relation to the decision,” Hamamatsu Photonics said in a statement on Monday.

Authorities in Germany, Britain, and the United States had approved the acquisition, it added. The Danish Business Authority said the denial was in accordance with the Danish Investment Screening Act. Reuters