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Leyard acquisition of Planar closes

Planar Systems Inc., a global provider of display and digital signage technology, has closed its sale to Leyard American Corp., a subsidiary of Leyard Optoelectronic Co. Ltd., which designs, produces and distributes a range of LED display products and ancillary systems.

November 30, 2015

Planar Systems Inc., a global provider of display and digital signage technology, announced recently that it has closed its sale to Leyard American Corp., a subsidiary of Leyard Optoelectronic Co. Ltd., which designs, produces and distributes a range of LED display products and ancillary systems.

As previously announced in August, Planar and Leyard entered into a definitive merger agreement, pursuant to which Leyard American agreed to acquire all of the common stock of Planar for a purchase price of $6.58 per share.

Planar has requested that The Nasdaq Stock Market LLC suspend trading and delist Planar common stock in connection with the closing of the merger.

BofA Merrill Lynch served as financial advisor to Planar, and Roth Capital Partners LLC served as financial advisor to Leyard. Perkins Coie LLP provided legal advice to Planar, and Shearman & Sterling LLP provided legal advice to Leyard.

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