ETEK And JDSU Receive Request For Additional Information In Connection With HSR Review
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Sunday April 2, 9:00 am Eastern Time
Company Press Release
SOURCE: JDS Uniphase Corporation
E-TEK Dynamics and JDS Uniphase Receive Request for Additional Information In HSR Review
NEPEAN, Ontario and SAN JOSE, Calif., April 2 /PRNewswire/ -- JDS Uniphase Corporation (Nasdaq: JDSU - news; Toronto: JDU - news) and E-TEK Dynamics, Inc. (Nasdaq: ETEK - news) announced that they have received requests for additional information and other documentary material from the Antitrust Division of the U.S. Department of Justice under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (``HSR'), with respect to JDS Uniphase's previously announced merger with E-TEK. This request, which was received late on March 31, 2000, extends the waiting period under HSR.
JDS Uniphase and E-TEK intend to respond promptly and fully to the government requests, which are not unusual in a merger of this size that involves new, rapidly changing and important technologies. The parties expect to consummate the transaction in the second calendar quarter of this year, as originally indicated at the time of the merger announcement.
JDS Uniphase and E-TEK announced their agreement to merge on January 17, 2000. The merger agreement provides for the exchange of 2.2 shares of JDS Uniphase common stock for each common share of E-TEK. The merger is subject to the approval of E-TEK stockholders, regulatory approvals and other customary closing conditions.
JDS Uniphase is a high technology company that designs, develops, manufactures and distributes a comprehensive range of products for the growing fiberoptic communications market. These products are deployed by system manufacturers worldwide to develop advanced optical networks for the telecommunications and cable television industries. JDS Uniphase Corporation is traded on the Nasdaq National Market under the symbol JDSU, and the exchangeable shares of JDS Uniphase Canada Ltd. are traded on The Toronto Stock Exchange under the symbol JDU. More information on JDS Uniphase is available at www.jdsunph.com.
E-TEK Dynamics, Inc., headquartered in San Jose, designs and manufactures high quality components and modules for fiberoptic systems. E-TEK's wavelength division multiplexers (``WDMs') are designed to increase the bandwidth capacity of fiberoptic networks. Other E-TEK components, including isolators, couplers and integrated optics, are critical in enabling optical communications systems. These products are utilized in terrestrial and submarine long-haul fiberoptic networks as well as in short-haul markets, such as metro and cable. More information on E-TEK is available at www.e-tek.com.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These statements may be identified by their use of forward-looking terminology such as ``believes,' ``expects,' ``may,' ``should,' ``would,' ``will,' ``intends,' ``intention,' ``plans,' ``estimates,' ``anticipates,' and similar words. Such forward-looking statements include, but are not limited to, the statement as to the expected closing date of the merger of JDS Uniphase and E-TEK Dynamics. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Risks and uncertainties that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, factors discussed from time to time in reports filed by JDS Uniphase Corporation and E-TEK Dynamics, Inc. with the Securities and Exchange Commission. The forward-looking statements contained in this news release are made as of the date hereof and neither JDS Uniphase Corporation nor E-TEK Dynamics, Inc. assumes any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements. |
