March 12, 2018 / 10:29 AM / 5 months ago

BRIEF-Lumentum To Acquire Oclaro For $1.8 Bln In Cash And Stock

March 12 (Reuters) - Oclaro Inc:

* LUMENTUM TO ACQUIRE OCLARO FOR $1.8B IN CASH AND STOCK

* OCLARO INC - ‍ESTIMATE MORE THAN $60 MILLION IN ANNUAL RUN-RATE SYNERGIES WITHIN 12 TO 24 MONTHS​ AFTER DEAL

* OCLARO INC - DEAL FOR AT $9.99 PER SHARE OR APPROXIMATELY $1.8 BILLION IN EQUITY VALUE

* OCLARO INC - OCLARO STOCKHOLDERS WILL BE ENTITLED TO RECEIVE $5.60 IN CASH AND 0.0636 OF A SHARE OF LUMENTUM COMMON STOCK

* OCLARO INC - DEAL EXPECTED TO BE ACCRETIVE TO NON-GAAP EARNINGS PER SHARE IMMEDIATELY AFTER CLOSING​

* OCLARO INC - ‍LUMENTUM INTENDS TO FUND CASH CONSIDERATION WITH A COMBINATION OF CASH ON HAND FROM COMBINED COMPANIES’ BALANCE SHEETS, AMONG OTHERS​

* OCLARO INC - ‍ ONE MEMBER OF OCLARO’S BOARD AS MUTUALLY DETERMINED, WILL JOIN LUMENTUM’S BOARD UPON CLOSING OF DEAL​

* OCLARO INC - ‍LUMENTUM INTENDS TO FUND CASH CONSIDERATION OF DEAL ALSO WITH $550 MILLION IN DEBT FINANCING​

* OCLARO INC - ‍ OCLARO STOCKHOLDERS ARE EXPECTED TO OWN APPROXIMATELY 16% OF COMBINED COMPANY AT CLOSING OF DEAL​ Source text for Eikon: Further company coverage:

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