Lumentum to buy Oclaro for US$1.8b
[BENGALURU] Laser and optical fibre supplier Lumentum Holdings Inc said on Monday it would buy optical company Oclaro Inc for US$1.8 billion in cash and stock to broaden its portfolio of laser offerings.
The offer price of US$9.99 per share, represents a premium of 27.3 per cent to Oclaro's closing price of US$7.85.
Technology sector analysts say that Lumentum is the main supplier of a crucial part of Apple's new FaceID technology, although neither Apple nor Lumentum has said publicly that this is the case.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue