Optical Technology Makers to Merge (OCLR, OPXT)
After the markets closed last night, Oclaro Inc. (NASDAQ: OCLR) and Opnext Inc. (NASDAQ: OPXT) announced a definitive merger agreement that will give Opnext shareholders 0.42 shares of Oclaro common stock for each share of Opnext stock they own. At…
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The transaction is expected to close in three to six months and Opnext shareholders will own 42% of the combined company. The companies anticipate transaction costs of $20-$30 million and annualized cost synergies of $35-$45 million within 18 months of the deal’s closing.
Shares of Opnext are up about 47% today, at $1.66 in a 52-week range of $078-$3.05.
Shares of Oclaro are down about -8.8% at $4.25 in a 52-week range of $2.68-$12.02.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
