Optical components maker Oclaro Inc will purchase smaller rival Opnext Inc in a stock deal valued at about $177 million. Opnext shareholders will receive 0.42 shares of Oclaro stock for every Opnext share they own, the companies said in a statement.
Oclaro, Inc. is a provider of core optical network components, modules and subsystems to global telecommunications (telecom) equipment manufacturers. Shares of OCLR traded higher by 2.87% or $0.13/share to $4.66. In the past year, the shares have traded as low as $2.68 and as high as $12.02. On average, 801508 shares of OCLR exchange hands on a given day and today's volume is recorded at 692902.
Opnext, Inc. (Opnext) is a designer and manufacturer of optical components, modules and subsystems for communications uses. Shares of OPXT traded higher by 3.67% or $0.04/share to $1.13. In the past year, the shares have traded as low as $0.78 and as high as $3.05. On average, 365072 shares of OPXT exchange hands on a given day and today's volume is recorded at 446963.
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