Excel Technology, Inc. Release: Coherent Notifies Excel Of Decision From The German Federal Cartel Office

EAST SETAUKET, N.Y.--(BUSINESS WIRE)--Excel Technology, Inc. (NASDAQ: XLTC) announced today that it was informed by Coherent (NASDAQ: COHR) that they had received a prohibition order from the German Federal Cartel Office (FCO) regarding its proposed acquisition of Excel. The acquisition had previously been approved by antitrust authorities in the United States. Although Coherent had offered multiple remedy proposals to the FCO, none were acceptable.