JDS Uniphase Corp., a fiber-optics concern, and market rival SDL Inc. announce they have reached a definitive agreement to merge in a transaction valued at approximately $41 billion in stock. The accord, which would the biggest technology merger on record, provides for the exchange of 3.8 shares of JDS common stock for each common share of SDL. Completion of the transaction is subject to customary closing conditions and the approval of stockholders of both companies and regulatory approvals. Following completion of the merger, SDL will operate as a wholly owned subsidiary of JDS.
“I am thrilled and excited about this merger and to have the opportunity to work closely together with Don Scifres [SDL chairman, president and CEO] and his team. JDS Uniphase and SDL share a common vision to provide customers with the most innovative and technologically advanced products that enhance their ability to deliver next-generation optical systems,” says Jozef Straus, JDS co-chairman and CEO.
JDS completed the purchase of E-Tek Dynamics Inc. for $15 billion on June 30.
