Planar to be Acquired by Leyard

China’s Leyard Optoelectronic and Planar Systems have entered into a definitive merger agreement, which will see Leyard acquire all of Planar’s common stock, in a deal which values Planar at around $156.8 million.

Planar’s board of directors has unanimously approved the merger and recommended that shareholders approve the deal. The transaction is subject to the usual closing conditions, including antitrust and other government clearance, and is expected to close in Q4 of this year.

The acquisition adds to Leyard’s existing range of display products and enables the Beijing-based company to expand its position outside the Chinese market.