News Article

Oplink Finally Seals OCP Acquisition

The poison pill is put back in the bottle as Oplink raises its offer for the remaining stock in Optical Communication Products.

Optical Communication Products (OCP) once again looks set to come under the wing of Oplink Communications, thanks to an improved cash offer for outstanding OCP stock.

Oplink has now closed its acquisition of Furukawa Electric s 58.1 percent stake in OCP, but the deal had looked to be heading for trouble after the remaining OCP shareholders issued a shareholder rights plan - also known as a "poison pill" in financial circles.

In its original plan, Oplink had offered to buy out the non-Furukawa OCP stock for only $1.50 per share.

Now, the special committee of OCP's board of directors and Oplink are said to have reached an "agreement in principle", under which Oplink would pay OCP shareholders $1.65 in cash for each share in the remaining OCP stock.

The final value of the deal will therefore be around $179 million, and is expected to close be the end of the third calendar quarter of 2007.

Just one final hurdle remains - the merger agreement requires the affirmative vote of two-thirds of the outstanding OCP shares not yet acquired by Oplink.

Last year, OCP, which specializes in compound semiconductor-based products for applications in optical communications, acquired the Taiwanese chip maker Gigacomm (see related story).

CS International to return to Brussels – bigger and better than ever!


The leading global compound semiconductor conference and exhibition will once again bring together key players from across the value chain for two-days of strategic technical sessions, dynamic talks and unrivalled networking opportunities.


Join us face-to-face between 28th – 29th June 2022

  • View the agenda.
  • 3 for the price of 1. Register your place and gain complementary access to TWO FURTHER industry leading conferences: PIC International and SSI International.
  • Email info@csinternational.net  or call +44 (0)24 7671 8970 for more details.

*90% of exhibition space has gone - book your booth before it’s too late!

Register


×
Search the news archive

To close this popup you can press escape or click the close icon.
×
Logo
×
Register - Step 1

You may choose to subscribe to the Compound Semiconductor Magazine, the Compound Semiconductor Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
Live Event