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Oclaro stock slump prompts private bid
A 50% slide in the value of Oclaro in the past two months means that its proposed stock-based acquisition of Opnext values the latter at only $90 million now - compared with $177 million at the time the deal was announced. But Opnext's board of directors insists that the pending deal represents better shareholder value than a rival bid from a technology-focused private equity company. Source: Yahoo! Finance.
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