Infinera Set for Nokia Acquisition Completion
Deal News | Feb 18, 2025 | Globenewswire
Infinera Corporation has announced the anticipated closing date for its acquisition by Nokia Corporation to be around February 28, 2025, subject to outstanding regulatory approvals and customary conditions. In related proceedings, Infinera has set the deadline for its shareholders to revoke their prior elections concerning the form of merger consideration by February 21, 2025. The merger agreement stipulates that shares not withdrawn by this deadline will be converted into cash at $6.65 per share upon the transaction's closure. The announcement also outlines the procedural requirements for shareholders, who may be subjected to earlier deadlines by custodians such as banks or brokers. The transaction's proration and final results will be disclosed upon its consummation. This merger allows Infinera to capitalize on Nokia's resources, potentially influencing the optical networking market.
Sectors
- Telecommunications Equipment
- Mergers & Acquisitions
Geography
- United States – Infinera, based in San Jose, California, is central to the article's focus on the arrangement and logistics of the acquisition.
- Finland – As the acquiring entity, Nokia is headquartered in Finland, playing a crucial role from a geographic standpoint in this acquisition.
Industry
- Telecommunications Equipment – Both Infinera and Nokia are significant players in the telecommunications equipment industry, making this sector particularly relevant to the article as it involves the merger of two companies in this field.
- Mergers & Acquisitions – The article revolves around the details of a pending acquisition transaction, positioning it within the M&A sector.
Financials
- $6.65 – The cash compensation per share that Infinera stockholders will receive if they elect to convert their shares as per the acquisition terms.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Infinera Corporation | Target Company | Company | Infinera is a global supplier of innovative optical networking solutions and advanced optical semiconductors. |
| Nokia Corporation | Bidding Company | Company | Nokia is a Finnish multinational telecommunications, information technology, and consumer electronics company. |
| Computershare Trust Company, N.A. | Exchange Agent | Company | Computershare is the agent responsible for handling the revocation and transfer of Infinera stockholder shares. |
| Sodali & Co | Communication Agent | Company | Sodali provides communication support for Infinera stockholders requesting election revocation materials. |