Oclaro urges shareholders to vote for Opnext merger
US-based Oclaro, manufacturer of laser diodes, is asking its shareholders to approve the proposed merger with fibre optics components manufacturer, Opnext, US, alongside an increase in authorised shares, to deliver sufficient shares to Opnext stockholders. At their respective meetings, stockholders of Opnext approved the merger of the two companies, this being their final milestone needed to close the merger. Meanwhile, Oclaro received approximately 46% of the greater than 50% majority vote needed to approve this proposal and close the merger. Of the votes, approximately 89% were in favour of the proposal. Oclaro stockholders will now adjourn until July 23, 2012, to solicit the additional votes required to complete the merger. "The Oclaro and Opnext teams have been working diligently and our integration plans are on schedule," said Alain Couder, chairman and CEO, Oclaro. "We are ready to operate as a single company and look forward to taking our place as the number two global provider of optical components, modules and subsystems."