Adva Optical hits 5-year high as Adtran offer gets acceptance

Adtran Networks SE

31/01/2022 08:58

** Shares in Adva  ADAG.DE  are up 15% after U.S. optic
fibre specialist Adtran  ADTN.O  said its offer for the German
rival had passed the acceptance threshold
    ** Adtran said voluntary public takeover offer of special
purpose company Acorn HoldCo, Inc. to Adva shareholders had been
accepted for more than 60% of all Adva shares  urn:newsml:reuters.com:*:nL8N2UB1Q0
    ** In August, Adva stock reached its best day in 12 years
after Adtran agreed for the takeover  urn:newsml:reuters.com:*:nL8N2Q12UJ
    ** "Bullish," a local trader says, adding that Adtran offer
translates to 13.59 euros per Adva share 
    ** Adva stock, which is now on its 5-year high, closed at
12.72 euros per share on Friday


 (Reporting by Bartosz Dabrowski in Gdansk)
 ((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))