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Merger of Lumentum, NeoPhotonics Receives Antitrust Clearance in China.

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MANews-(C)2009-2022

California-based optical and photonic products manufacturer Lumentum Holdings Inc (NASDAQ: LITE) has obtained antitrust clearance from the People's Republic of China's State Administration for Market Regulation for its pending acquisition of California-based lasers and optoelectronic solutions manufacturer NeoPhotonics Corp. (NYSE: NPTN), the company said.

This clearance satisfies the acquisition's closing condition set forth in the previously announced merger agreement regarding the receipt of antitrust approval in the People's Republic of China.

As such, Lumentum currently expects that the NeoPhotonics acquisition will close on or around August 3, 2022.

Lumentum to Acquire Laser Maker NeoPhotonics for USD 918m

Last November, Lumentum announced the deal to acquire NeoPhotonics for approximately USD 918m to accelerate optical network speed and scalability.

The addition of NeoPhotonics, at a sale of USD 16 per share, expands Lumentum's opportunity in the optical components market used in cloud and telecom network infrastructure.

Related to the transaction, Lumentum will provide up to USD 50m in term loans to NeoPhotonics to fund anticipated growth, which may require...

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