1 August 2022
Lumentum’s acquisition of NeoPhotonics receives anti-trust clearance in China
Lumentum Holdings Inc of San Jose, CA, USA says that it has obtained anti-trust clearance from the People’s Republic of China’s State Administration for Market Regulation in connection with its pending acquisition of San Jose-based NeoPhotonics Corp.
NeoPhotonics is a vertically integrated designer and manufacturer of silicon photonics and hybrid photonic integrated circuit (PIC)-based lasers, modules and subsystems for high-speed communications. Lumentum designs and makes photonics products for optical networks and lasers for industrial and consumer markets.
The clearance satisfies the acquisition’s closing condition set forth in the merger agreement (announced on 3 November) regarding the receipt of anti-trust approval in the People’s Republic of China.
Previously (on 21 January) Lumentum announced the expiration of the waiting period under the Hart–Scott–Rodino Antitrust Improvements Act of 1976 (HSR Act) in the USA, which was another condition for closing the transaction.
Lumentum hence now expects that the NeoPhotonics acquisition will close on or around 3 August.
Under the terms of merger agreement, each share of NeoPhotonics common stock will be converted into the right to receive $16 in cash upon the completion of the transaction.