Summary
Lumentum Holdings Inc. (LITE) announced on December 6, 2018, that it has received antitrust clearance from the People's Republic of China's State Administration for Market Regulation (SAMR) for its previously announced acquisition of Oclaro, Inc. This is a significant development, as it removes a key regulatory hurdle for the transaction. The company currently expects the acquisition to close on or about December 10, 2018, subject to customary closing conditions. This clearance from China's SAMR is crucial for the completion of the Oclaro acquisition, which is anticipated to enhance Lumentum's product portfolio and market position. Investors should monitor the closing of this transaction as it represents a major strategic move for Lumentum and is expected to be accretive to its financial performance. The press release attached as an exhibit provides further details on this development.
Key Highlights
- 1Lumentum has received antitrust clearance from China's SAMR for the Oclaro acquisition.
- 2The acquisition of Oclaro is now expected to close on or around December 10, 2018.
- 3This clearance removes a significant regulatory obstacle for the transaction.
- 4The closing remains subject to customary closing conditions.
- 5The company issued a press release on December 6, 2018, detailing this development.
- 6The filing includes a cautionary note regarding forward-looking statements related to the acquisition's closing date.