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II-VI Inc Announces Acquisition Of Business From Oclaro Technology Limited-Form 8-K

Friday, 11 Oct 2013 04:46pm EDT 

II-VI Inc reported in its Form 8-K that on October 10, 2013, II-VI Incorporated, a Pennsylvania corporation (II-VI or Company), entered into an Asset Purchase Agreement by and among II-VI and Oclaro Technology Limited, a company incorporated under the laws of England and Wales (Oclaro) by which II-VI has agreed, subject to receipt of certain regulatory clearances, to acquire certain assets of Oclaro used in the fiber amplifier and micro-optics business (collectively Business). Acquisition of the Business by II-VI was previously approved by the Boards of Directors of both II-VI and Oclaro. The transaction, valued at $88.6 million, will consist of cash payment of $79.6 million, and a $4.0 million hold-back until December 31, 2014 to address post-closing adjustments or claims. The remaining $5.0 million was previously paid to Oclaro on September 12, 2013 pursuant to the exclusive option received by II-VI to acquire the Business. 

Company Quote

-0.2 -1.40%
22 Aug 2014