Thursday, November 1, 2007
Oplink Buys Optical Communications Products
Fremont-based Oplink Communications said Wednesday afternoon that it has completed the acquisition of the remaining 42 percent of outstanding common stock of Optilcal Communication Products, a Woodland Hills-based make of optical components. According to Oplink, it will pay approximately $80M, or $1.65 per share, to former holders of OCP's common stock for the firm. The merger was effective yesterday. The acquisition concludes the semi-hostile takeover of OCP by Oplink. The effort began in April, when Oplink purchased a major block of stock from Furukawa, without consulting Oplink's board; OCP rejected a subsequent takeover offer, adopted a poison pill, and the two ended up in court.