U.S. east time on August 16, 2007, led by chip maker Cree announced 583 million in cash and stock swap acquisition of Wall Street lighting systems manufacturer Ruud Lighting Incorporated. Combining two highly complementary LED innovator, this acquisition enables Cree to expand its leadership position and increase the efficient use of LED lighting manufacturers. Cree in the news, fell 5.4 percent in after-hours trading to $ 32.85.
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