JDSU & SDLI to merge... -- EFNT2

[ Show ]

Support VoyForums

[ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, 3, 4 ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 06:27:54 07/10/00 Mon
Author: warren
Subject: JDSU & SDLI to merge...

Monday July 10, 4:22 am Eastern Time

JDS Uniphase to buy SDL in $41 bln deal

NEW YORK, July 10 (Reuters) - Fiber optics product makers JDS Uniphase Corp. (Toronto:JDU.TO - news) and SDL Inc. (NasdaqNM:SDLI - news) said on Monday they would merge in a stock deal worth $41 billion.

Under the definitive agreement, 3.8 shares of Canada's JDS Uniphase will be exchanged for each SDL share, the companies said. SDL will operate as a wholly-owned subsidiary of JDS Uniphase once the transaction closes.

The deal must still be approved by shareholders and regulators, the companies noted.

``This combination brings together world class technical and manufacturing teams that promise to deliver best-in-class products at increased volumes for today's systems while developing solutions for tomorrow,'' said Don Scifres, SDL chief executive. ``We also expect to enable the migration from today's hybrid integration and module level products to tomorrow's truly integrated system on a chip.''

SDL shares closed Friday up $10-7/8 at 295-5/16, off a high of 315-1/8. JDS Uniphase's New York-traded stock closed at $116-3/16, off a high of 153-3/8.

SCMR might get a boost on this news.

[ Next Thread | Previous Thread | Next Message | Previous Message ]