JDS Uniphase, E-TEK Dynamics in $15 Billion Merger
SAN JOSE, Calif., Jan. 19 -- JDS Uniphase Corp. and E-TEK Dynamics Inc. have signed a definitive merger agreement that would result in E-TEK operating as a wholly owned subsidiary of JDS Uniphase. The agreement calls for the exchange of 1.1 shares of JDS Uniphase common stock for each common share of E-TEK. Completion of the merger -- valued at approximately $15 billion, based on closing stock prices as of January 14, 2000 -- is subject to customary closing conditions, including regulatory approvals and a vote by E-TEK stockholders.
The companies said the merger plans stem from growth in the telecommunications industry; accelerated deployment of fiber optic systems in service providers' networks has led to increased demand by systems manufacturers. JDS Uniphase and E-TEK Dynamics said they expect the merger to allow them to maximize their complementary strengths and to facilitate a more rapid scaling of operations that will bring greater volume and a broader range of products to customers faster.
LATEST NEWS
- CLEO Heads to the East Coast
Apr 29, 2024
- Laser-Based Gas Analyzer Developed to Detect Air Pollution
Apr 29, 2024
- Qubits Could be Stored in Flash-Like Memory
Apr 29, 2024
- Exail Signs LLNL Contract, Partners with Eelume
Apr 26, 2024
- Menlo Moves U.S. HQ: Week in Brief: 4/26/2024
Apr 26, 2024
- Optofluidics Platform Keys Label-, Amplification-Free Rapid Diagnostic Tool
Apr 25, 2024
- DUV Lasers Made with Nonlinear Crystals Enhance Lithography Performance
Apr 25, 2024
- Teledyne e2v, Airy3D Collaborate on 3D Vision Solutions
Apr 24, 2024