Brief: Adva Optical Networking To Enter Into Negotiations For Domination Agreement

Adtran Networks SE

07/07/2022 08:53

July 7 (Reuters) - ADVA Optical Networking SE  ADAG.DE :
    * SAID ON WEDNESDAY TO ENTER INTO NEGOTIATIONS FOR A
DOMINATION
AGREEMENT OR DOMINATION AND PROFIT AND LOSS TRANSFER AGREEMENT
WITH ACORN HOLDCO, INC.
    * THE NECESSARY PREPARATORY MEASURES INCLUDE OBTAINING A
VALUATION
MEMORANDUM AND PROPOSING A CONTRACT AUDITOR TO BE APPOINTED BY
THE COURT
    * THE DECISION FOR OR AGAINST THE CONCLUSION OF AN AGREEMENT
WILL
BE TAKEN AT A LATER DATE FOLLOWING A COMPREHENSIVE REVIEW IN
CONSULTATION AND COORDINATION WITH ACORN HOLDCO’S MANAGEMENT
    * IN THE EVENT THAT APPROVAL IS GRANTED, ACORN HOLDCO WILL
HAVE TO
MAKE AN OFFER TO ADVA’S OUTSIDE SHAREHOLDERS TO ACQUIRE THEIR
SHARES AGAINST A SETTLEMENT PAYMENT IN CASH AND WILL HAVE TO
GRANT COMPENSATION PAYMENTS FOR THE DURATION OF THE AGREEMENT

Source text for Eikon:  ID:nEQ9swcjNa 
Further company coverage:  ADAG.DE 

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