Stockholders of ADTRAN approved the business combination with ADVA Optical Networking SE by an overwhelming majority.
The company said the next major milestone will be the close of the initial acceptance period for the tender of ADVA shares at midnight (CET) on January 12, 2022, and for the combination to be successful, at least 70% of the ADVA shares must be tendered by this time. The parties also continue to work with the relevant authorities to obtain the required foreign direct investment approvals and are confident that such approvals will be obtained in due course.
ADTRAN/ADVA combination reaches major milestones
ADTRAN announced that the acceptance of the exchange offer regarding the proposed business combination between ADTRAN and ADVA Optical Networking SE has been recommended by ADVA's management and supervisory boards and that key antitrust approvals have been received.On November 23, 2021, the management and supervisory boards of ADVA issued a joint reasoned statement recommending that ADVA shareholders accept the exchange offer for Acorn HoldCo shares....
