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BRIEF-EXFO acquires 33.1 pct stake in Astellia, plans to launch voluntary takeover bid of co
August 31, 2017 / 5:36 AM / 4 months ago

BRIEF-EXFO acquires 33.1 pct stake in Astellia, plans to launch voluntary takeover bid of co

Aug 31 (Reuters) - EXFO Inc

* EXFO acquires 33.1% stake in Astellia and announces plans to soon launch a voluntary takeover bid of the company

* EXFO signed an representing an equity stake of 25.4%, at a price of EUR 10 per Astellia share

* Astellia’s board of directors has expressed its support for this transaction

* Price of EUR 10 per share proposed by EXFO represents a premium of 44.7% over Astellia’s closing share price on August 30, 2017

* Co signed an agreement with Isatis Capital to acquire at same price a majority of its shares, representing an equity stake of 7.7%

* Transaction values the entirety of Astellia’s equity (on a fully diluted basis) at approximately 25.9 million euros

* EXFO will initiate an all-cash voluntary public tender offer to acquire Astellia’s remaining shares Source text for Eikon: Further company coverage:

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