EU Commission approves Nokia's $2.3bn takeover of Infinera [Yahoo! Finance]
Infinera Corporation (INFN)
Last infinera corporation earnings: 2/25 04:03 pm
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Source: Yahoo! Finance
The commission has found that the merger will not raise competition concerns, as the combined market share of the two companies is considered moderate. In June 2024, Nokia agreed to acquire Infinera, a provider of open optical networking solutions and advanced optical semiconductors, in a cash and stock deal. The purchase price of $6.65 per share represents a significant premium over Infinera's share price as of 26 June 2024. The merged entity is expected to achieve the necessary scale to enhance its product offerings and more effectively compete with larger rivals. Following assessment, the Commission concluded that the combined market share of Nokia and Infinera in the supply of optical transport equipment would remain moderate, with sufficient competition in the sector. The assessment considered both global and European Economic Area markets, as well as specific segments of optical transport equipment based on type and application. The Commission's investigation found
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