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Finisar, Optium shareholders to vote on merger at Aug. 28 meetings
By Jennifer Chiou
New York, July 23 - Finisar Corp. and Optium Corp. announced that they are seeking shareholder approval of their proposed merger agreement at shareholders' meetings to be held on Aug. 28.
Finisar investors will meet at 1 p.m. ET in East Palo Alto, Calif., and Optium holders will meet at 11 a.m. ET in New York.
On July 1, the Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of Finisar and Optium.
Finisar and Optium previously said the merger remains subject to satisfaction of other conditions, including approval of the stockholders of both companies.
In May, it was announced that Finisar and Optium agreed to combine in an all-stock merger in a deal valued at $212 million.
Under the companies' merger agreement, Optium stockholders would receive 6.262 Finisar shares for each Optium share they own. Optium options and warrants will represent a corresponding right to acquire Finisar shares based on an exchange ratio, according to a joint news release.
Once the merger is complete, Finisar shareholders will own 65% and Optium shareholders will own 35% of the combined company, which will trade on the Nasdaq Select Market under the symbol "FNSR," it was previously reported.
Sunnyvale, Calif.-based Finisar designs, manufactures and markets digital fiber-optic subsystems and network monitoring systems for high-speed data communications over local area networks.
Optium designs and manufactures optical subsystems for use in telecommunications and cable television network systems. The company is located in Horsham, Pa.
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