Oclaro and Opnext Agree to Merge
Oclaro, Inc. (Nasdaq: OCLR) and Opnext, Inc. (Nasdaq: OPXT) today announced that they have entered into a definitive agreement to merge in an all-stock transaction. Under the terms of agreement, Opnext shareholders will receive a fixed ratio of 0.42 shares of Oclaro common stock for every share of Opnext common stock they own.
The Oclaro and Opnext merger is expected to mark a major transformation in the optical industry, bringing together over 30 years of combined telecom and datacom optical technology innovation. The merger will create a new industry leader in the fast-growing optical components and modules market, forecast to reach $9.2 billion in 2015. The broad product portfolio, technology innovation, engineering resources, cost structure and strategic customer relationships of the combined company are expected to expand its opportunities for growth and to create long-term shareholder value.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.