On November 8, local time in the United States, the two American optoelectronic device giants announced their merger. II-VI, a global leader in engineering materials and optoelectronic components, and Finisar, a global technology leader in optical communications, announced that the two parties have reached a final merger agreement. II-VI will acquire Finisar in cash and stock transactions with a stake value of approximately 32 One hundred million U.S. dollars.
According to the terms of the merger agreement unanimously approved by the boards of directors of the two companies, Finisar shareholders will receive a pro-rata cash of US $ 15.60 per share and 0.2218 times the common stock of II-VI companies. At the closing price of $ 46.88 for common shares, the price per share was $ 10.40. The transaction price was $ 26.00 per share, or approximately $ 3.2 billion in equity value, a 37.7% premium to Finisar's closing price. Based on the price on November 8, 2018, Finisar shareholders will own approximately 31% of the combined company.