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Technology Stocks : Occam Networks OCCM

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From: FJB	9/16/2010 12:07:02 PM
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Calix To Buy Occan Networks For $7.75/Shr; About $171 Million. Thursday, September 16, 2010 ET. By Eric Savitz In a deal combining two players in the optical communications equipment sector, Calix (CALX) this morning said it has agreed to buy Occam Networks (OCNW) for $7.75 a share in cash and stock, for a total value of about $171 million. Each Occam share will be converted into the right to received $3.8337 a share in cash plus 0.2925 of a Calix share. Occam holders will own between 16.5% and 18.9% of the combined company. Calix expects to close the deal in Q4 2010 or Q1 2011. The deal is subject to the approval of Occam holders, and other customary closing conditions. The deal is expected to be accretive to non-GAAP EPS in Q2 2011. In this morning’s trading: OCNW is up $1.89, or 35.7%, to $7.18. CALX is unchanged at $13.

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