Emulex Wins New Zealand Governmental Approval for Acquisition of Endace
Emulex Corporation (NYSE: ELX), the leading provider of converged networking solutions, and Endace Limited, a leading supplier of network visibility infrastructure products, announced today that the Emulex Takeover Offer for Endace has been approved by the New Zealand Overseas Investment Office, and assurances of continuity have been received for the research and development grants Endace receives from the New Zealand Ministry of Science and Innovation. The Closing Date for shareholders to submit their shares to the Offer is 1 p.m. London time on February 12, 2013 (the "Closing Date").
"We are pleased to have passed these major milestones in our acquisition of Endace. Emulex looks forward to completing the acquisition," said Jim McCluney, chief executive officer (CEO) of Emulex.
Mike Riley, CEO of Endace, said, "We have been very pleased by the reception that the Offer has received from the Endace shareholders and our customers. Our employees are also looking forward to the benefits that the acquisition will bring to Endace's business."
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.