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…
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.
