EXFO announces the filing of a voluntary tender offer for Astellia's shares01-Dec-17
EXFO, which holds 33.1% of Astellia's equity, filed a voluntary public tender offer for the company's remaining equity.
The offer will be proposed at a price of 10 euros per Astellia share.
The independent expert confirmed the fairness of the offer.
Astellia’s Board of Directors recommended the offer and considered that the offer is in the interests of the company, its shareholders and its employees.
Following the off-market acquisitions of 33.1% of Astellia's equity ("Astellia") (ISIN code: FR0004176535 – mnemonic: ALAST), EXFO Inc. (“EXFO”) (NASDAQ: EXFO, TSX: EXF) launched today an all-cash voluntary public tender offer to acquire all of the outstanding shares of Astellia.
This offer will be proposed at a price of 10 euros per Astellia share, the same amount that was paid by EXFO for the off-market acquisitions. The price of 10 euros per share represents a 44.7% premium over the unaffected closing share price of Astellia on August 30, 2017, the day before the intention of EXFO to acquire Astellia was announced, and a 56.7% premium over the volume-weighted average share price over the last 12 months before this date.