Tellabs Completes Acquisition Of Coherent
Communications
LISLE, Ill. (Dow Jones)--Tellabs Inc. (TLAB) completed its acquisition of
Coherent Communications Systems Corp. (CCSC) in a stock swap
originally valued at about $800 million.
In a press release Monday, Tellabs said it exchanged 0.72 common shares
for each Coherent share.
Tellabs said both companies' product lines will be maintained for the
immediate future, and the combined company plans to launch several new
products in the near future.
Coherent, which makes echo cancellation and conferencing products, will
operate as a Tellabs unit, Tellabs said.
Coherent's Nasdaq-listed stock was down 1/4 at 54 1/4 in afternoon
trading, on volume of 554,600 shares. After the closing of the deal, the
company will no longer be listed on Nasdaq, Tellabs said.
Tellabs' Nasdaq-listed stock was down 7/32 at 75 1/16 in afternoon
trading, on volume of 4,695,600 shares.
Tellabs makes voice and data transport and access systems.
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