XLTC Excel Tech (MM)

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. Antoine Dominic, Chief Executive Officer, stated, �Although, the last eight months have been a trying period for Excel�s management and its staff, we have maintained our focus as evidenced by achieving record results in 2006. We are quite optimistic about our long term prospects and plan to build on these achievements.� Excel and its wholly owned subsidiaries manufacture and market photonics-based solutions, consisting of laser systems and electro-optical components, primarily for industrial/commercial and scientific applications. 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. Antoine Dominic, Chief Executive Officer, stated, "Although, the last eight months have been a trying period for Excel's management and its staff, we have maintained our focus as evidenced by achieving record results in 2006. We are quite optimistic about our long term prospects and plan to build on these achievements." Excel and its wholly owned subsidiaries manufacture and market photonics-based solutions, consisting of laser systems and electro-optical components, primarily for industrial/commercial and scientific applications.