Adva Optical set for best day in 12 yrs on merger with Adtran

Adtran Holdings

30/08/2021 13:35

** Adva  ADAG.DE  shares jump 16.4% as U.S. optic fibre
specialist Adtran  ADTN.O  agreed to take over the German rival,
while British investment firm Acorn HoldCo said it would offer
to buy all shares in the new company  urn:newsml:reuters.com:*:nASN001LO2  urn:newsml:reuters.com:*:nASN001LO1
    ** The bidder said it would offer 0.8244 Acorn HoldCo shares
for each tendered Adva share and become the holding company for
Adva and Adtran after a deal expected in Q2 or Q3 2022
    ** Adtran shareholders would own about 54% and Adva
shareholders about 46% of equity of the bidder, assuming a
tender of 100% of Adva shares
    ** Adva is the biggest riser on Germany's small cap index
 .SDAXI 

 (Reporting by Zuzanna Szymanska)
 ((zuzanna.szymanska@tr.com))