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Oclaro Stockholders Approve Merger Agreement with Lumentum

Date Announced: 10 Jul 2018

Deal set to close before the end of the year.

SAN JOSE, Calif., July 10, 2018 /PRNewswire/ -- Oclaro, Inc. (OCLR) ("Oclaro") announced that, based on the vote tally from Oclaro's Special Meeting of Stockholders held earlier today, Oclaro's stockholders approved the merger agreement under which Lumentum Holdings Inc. (LITE) ("Lumentum") will acquire Oclaro.  Stockholders also approved other proposals relating to the transaction.

Approximately 96.2% of voting Oclaro stockholders cast their votes in favor of the proposal to approve the merger agreement, representing approximately 65.6% of Oclaro's outstanding common stock as of the record date for the Special Meeting of Stockholders.

Greg Dougherty, Oclaro CEO, commented, "Today our stockholders voted overwhelmingly to approve the combination of Oclaro and Lumentum.  Together, we will be an even stronger player in fiber optic components and modules for high-speed communications and a market leader in 3D sensing. We are excited and optimistic about the opportunities this creates for all of our stakeholders, including stockholders, employees, customers and partners."

The parties continue to expect the transaction to close in the second half of 2018, subject to receipt of regulatory approval in China and satisfaction of customary closing conditions.

Source: Oclaro


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