Following the Danish government’s decision to block the move earlier this year, Hamamatsu Photonics has again submitted its application to the Danish Business Authority to acquire NKT Photonics as a subsidiary of Photonics Management Europe, an existing subsidiary of Hamamatsu (which would make PME a sub-subsidiary of Hamamatsu).
Originally announced in June last year, the deal would have expanded Hamamatsu’s solution portfolio for the industrial, scientific, and health care sectors.
However, despite being set for completion in March after having obtained the required regulatory approvals from authorities in Germany, United Kingdom, and the United States, Hamamatsu Photonics was denied the required authorisation to complete the transaction by the Danish Minister for Industry, Business, and Financial Affairs.
The notification cited the Danish Investment Screening Act, which gives the Minister the power to refuse authorisation of a foreign company's investment in Denmark if it poses a threat to national security or public order in Denmark.
In a new announcement, the firm says has re-submitted its acquisition application “after the necessary internal and external consultations”, and that “Going forward, we will conduct activities to obtain approval promptly, including consultations with relevant Danish authorities. If we have any matter that should be disclosed in future, we
will make an announcement promptly."
