MRV Communications enters agreement to be bought for $10 per share
ADVA Optical Networking announced that it has entered into a definitive agreement to acquire MRV Communications (MRVC).
Under the terms of the agreement, ADVA Optical Networking will make a tender offer of $10.00 per share for all the outstanding common stock of MRV.
The offer equates to an aggregate purchase price of $69M and has been approved and unanimously recommended by both the board of directors of ADVA Optical Networking and the board of directors of MRV Communications.
The acquisition is subject to customary closing conditions, including the tender of at least a majority of MRV’s outstanding shares of common stock.
MRV Communications, Inc. designs, manufactures, distributes, and services optical networking solutions and Internet infrastructure products worldwide. It offers optical transport, packet/carrier Ethernet, network management, and infrastructure management products and services. The company also provides out-of-band network equipment, as well as designs and manufactures fiber optic modules for the fiber-optic communications industry. Its portfolio of packet and optical solutions enable the access, aggregation, transport, and management of various communications traffic for fixed line, cable, content delivery, cloud-based, and mobile communications networks.
To read stories similar to this, sign up for a free trial membership to Stockwinners; be sure to check the Market Radar section.
The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.
MRVC closed at $9.85.