Infinera Announces Anticipated Closing Date of Acquisition by Nokia and Deadline for Infinera Stockholders to Revoke Election of Merger Consideration
Infinera (NASDAQ: INFN) has announced that its pending acquisition by Nokia is expected to close on February 28, 2025, subject to remaining regulatory approvals and customary closing conditions. The company has set February 21, 2025, at 5:00 p.m. New York City time as the Election Revocation Deadline for stockholders to revoke their previously made merger consideration elections.
Stockholders who have made valid elections and wish to sell their shares can revoke their election before the deadline. After the deadline, shares subject to unrevoked elections cannot be sold or transferred. The merger consideration is set at $6.65 per share in cash for revoked elections, subject to proration as described in the Proxy Statement/Prospectus.
Stockholders can submit revocations through Computershare Trust Company, and those holding shares through banks or brokers should contact their intermediaries for assistance.
Infinera (NASDAQ: INFN) ha annunciato che l'acquisizione in sospeso da parte di Nokia dovrebbe concludersi il 28 febbraio 2025, soggetta alle rimanenti approvazioni normative e alle condizioni di chiusura abituali. L'azienda ha fissato il 21 febbraio 2025, alle 17:00 ora di New York, come Scadenza per la Revoca delle Elezioni per gli azionisti che desiderano revocare le loro precedenti elezioni di considerazione per la fusione.
Gli azionisti che hanno effettuato elezioni valide e desiderano vendere le loro azioni possono revocare la loro elezione prima della scadenza. Dopo la scadenza, le azioni soggette a elezioni non revocate non possono essere vendute o trasferite. La considerazione per la fusione è fissata a 6,65 dollari per azione in contante per le elezioni revocate, soggetta a proration come descritto nel Documento di Proxy/Prospectus.
Gli azionisti possono inviare le revoche tramite Computershare Trust Company, e coloro che detengono azioni tramite banche o broker dovrebbero contattare i loro intermediari per assistenza.
Infinera (NASDAQ: INFN) ha anunciado que su adquisición pendiente por Nokia se espera que se cierre el 28 de febrero de 2025, sujeto a las aprobaciones regulatorias restantes y a las condiciones de cierre habituales. La compañía ha establecido el 21 de febrero de 2025, a las 5:00 p.m. hora de Nueva York, como la Fecha Límite de Revocación de Elecciones para que los accionistas revoquen sus elecciones de consideración de fusión realizadas anteriormente.
Los accionistas que han realizado elecciones válidas y desean vender sus acciones pueden revocar su elección antes de la fecha límite. Después de la fecha límite, las acciones sujetas a elecciones no revocadas no pueden ser vendidas ni transferidas. La consideración de la fusión está fijada en 6,65 dólares por acción en efectivo para las elecciones revocadas, sujeta a prorrateo como se describe en el Documento de Proxy/Prospectus.
Los accionistas pueden enviar revocaciones a través de Computershare Trust Company, y aquellos que poseen acciones a través de bancos o corredores deben contactar a sus intermediarios para obtener asistencia.
인피네라 (NASDAQ: INFN)는 노키아에 의한 인수 계획이 2025년 2월 28일에 종료될 것으로 예상하며, 이는 남은 규제 승인 및 일반적인 종료 조건에 따라 달라질 수 있다고 발표했습니다. 회사는 주주들이 이전에 한 합병 고려 사항 선택을 철회할 수 있는 선택 철회 마감일을 2025년 2월 21일 오후 5시 뉴욕 시간으로 정했습니다.
유효한 선택을 한 주주가 자신의 주식을 판매하고자 하는 경우 마감일 전에 선택을 철회할 수 있습니다. 마감일 이후에는 철회되지 않은 선택에 따라 주식을 판매하거나 이전할 수 없습니다. 합병 고려 사항은 철회된 선택에 대해 주당 6.65달러 현금으로 정해져 있으며, 이는 Proxy Statement/Prospectus에 설명된 대로 비례 배분될 수 있습니다.
주주들은 Computershare Trust Company를 통해 철회를 제출할 수 있으며, 은행이나 중개인을 통해 주식을 보유하고 있는 경우에는 중개인에게 도움을 요청해야 합니다.
Infinera (NASDAQ: INFN) a annoncé que son acquisition en cours par Nokia devrait se clôturer le 28 février 2025, sous réserve des approbations réglementaires restantes et des conditions de clôture habituelles. La société a fixé le 21 février 2025 à 17h00, heure de New York, comme Date Limite de Révocation des Élections pour les actionnaires souhaitant révoquer leurs choix de considération de fusion précédemment effectués.
Les actionnaires ayant effectué des choix valides et souhaitant vendre leurs actions peuvent révoquer leur choix avant la date limite. Après la date limite, les actions soumises à des choix non révoqués ne peuvent être vendues ou transférées. La considération de la fusion est fixée à 6,65 $ par action en espèces pour les choix révoqués, sous réserve d'une proratisation comme décrit dans le Document de Proxy/Prospectus.
Les actionnaires peuvent soumettre des révocations par l'intermédiaire de Computershare Trust Company, et ceux détenant des actions par l'intermédiaire de banques ou de courtiers doivent contacter leurs intermédiaires pour obtenir de l'aide.
Infinera (NASDAQ: INFN) hat angekündigt, dass die bevorstehende Übernahme durch Nokia voraussichtlich am 28. Februar 2025 abgeschlossen wird, vorbehaltlich der verbleibenden behördlichen Genehmigungen und üblicher Abschlussbedingungen. Das Unternehmen hat den 21. Februar 2025 um 17:00 Uhr New Yorker Zeit als Frist zur Widerrufung der Wahl für Aktionäre festgelegt, um ihre zuvor getätigten Wahlentscheidungen zur Fusionsüberlegung zu widerrufen.
Aktionäre, die gültige Wahlen getroffen haben und ihre Aktien verkaufen möchten, können ihre Wahl vor der Frist widerrufen. Nach der Frist können Aktien, die von nicht widerrufenen Wahlen betroffen sind, nicht verkauft oder übertragen werden. Die Fusionsüberlegung beträgt 6,65 USD pro Aktie in bar für widerrufene Wahlen, vorbehaltlich einer Pro-rata-Verteilung wie im Proxy Statement/Prospectus beschrieben.
Aktionäre können Widerrufe über die Computershare Trust Company einreichen, und diejenigen, die Aktien über Banken oder Broker halten, sollten ihre Vermittler um Unterstützung bitten.
- Acquisition deal values shares at $6.65 per cash, providing immediate liquidity for shareholders
- Transaction nearing completion with specific closing date announced
- Clear process established for shareholders to revoke elections and maintain trading flexibility
- Merger consideration subject to proration, potentially affecting final payout to shareholders
- Trading restrictions after Election Revocation Deadline may limit shareholder liquidity
- Transaction still contingent on remaining regulatory approvals
Insights
The announcement marks a important phase in Nokia's acquisition of Infinera, with several time-sensitive elements that demand immediate attention from shareholders. The February 21, 2025 Election Revocation Deadline, just one week before the anticipated closing, creates a narrow window for stockholders to make critical decisions.
The merger consideration structure warrants careful attention. While the base offer is
The tight timeline between the revocation deadline and closing date introduces practical considerations for shareholders:
- Shareholders who have made elections but wish to sell their shares must revoke their election first
- After the revocation deadline, elected shares cannot be sold or transferred
- Beneficial owners holding shares through brokers may face earlier deadlines
The transaction's progression toward closing suggests regulatory approvals are advancing as expected, though the closing remains subject to remaining regulatory clearances and customary conditions. This timing alignment indicates the deal is proceeding according to plan, which should provide some reassurance to stakeholders about the transaction's execution.
SAN JOSE, Calif., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ: INFN) (“Infinera”) today announced that its pending acquisition (the “Transaction”) by Nokia Corporation (“Nokia”) is anticipated to be completed on or about February 28, 2025, which date remains subject to receipt of remaining outstanding regulatory approvals and the satisfaction of other remaining customary closing conditions.
Based on the anticipated February 28, 2025 completion date, Infinera today also announced that the deadline to revoke a previously made election with respect to the form of merger consideration to be received in the Transaction is 5:00 p.m., New York City time, on February 21, 2025 (the “Election Revocation Deadline”). In the event that the anticipated completion date is delayed, Infinera will communicate an updated Election Revocation Deadline.
Holders of shares of Infinera’s common stock who have made a valid election with respect to the form of merger consideration to be received in the Transaction and who wish to sell or otherwise transfer such shares may revoke their election prior to and in connection with selling or transferring such shares. No revocations will be accepted or effected after the Election Revocation Deadline.
A holder of shares of Infinera’s common stock that are the subject of an election that has not been properly and timely revoked will no longer be able to sell or transfer such shares following the Election Revocation Deadline, and the holder will be entitled to receive the applicable merger consideration with respect to such shares upon completion of the Transaction.
Infinera stockholders of record may, at any time prior to the Election Revocation Deadline, revoke a previously made election prior to and in connection with selling or transferring their shares by delivery of a notice of withdrawal (a “Notice of Withdrawal”) to Computershare Trust Company, N.A. (the “Exchange Agent”) at the applicable address set forth below:
| If delivering by U.S. mail: | If delivering by courier: | ||
| Computershare Trust Company, N.A. c/o Voluntary Corporate Actions P.O. Box 43014 Providence, RI 02940-3014 | Computershare Trust Company, N.A. c/o Voluntary Corporate Actions 150 Royall Street, Suite 101 Canton, MA 02021 | ||
A revocation will be valid only if a properly completed and signed Notice of Withdrawal is received by the Exchange Agent by the Election Revocation Deadline.
Infinera stockholders who hold shares through a bank, broker or other nominee may be subject to an earlier deadline for revoking elections, and should contact their bank, broker or other nominee for assistance revoking an election in connection with selling or transferring such shares.
If an Infinera stockholder validly revokes a previously made election prior to the Election Revocation Deadline (or any earlier deadline applicable to the stockholder), that stockholder will be deemed to have elected to have those shares converted into the right to receive
The aggregate merger consideration payable by Nokia is subject to proration as described in the Proxy Statement/Prospectus (the “Proxy Statement/Prospectus”) filed with the U.S. Securities and Exchange Commission by Infinera and Nokia in connection with the Transaction. Infinera and Nokia intend only to announce the results of stockholder elections and required proration, if any, in connection with the closing of the Transaction.
Infinera stockholders of record who wish to request election revocation materials, including a Notice of Withdrawal, should contact Sodali & Co at (800) 662-5200 (for registered holders of Infinera common stock) or (203) 658-9400 (for banks and brokers), or by email at INFN@investor.sodali.com. Infinera stockholders who hold shares through a bank, broker or other nominee should contact their bank, broker or other nominee for assistance revoking an election.
Infinera stockholders should carefully read the Proxy Statement/Prospectus and all election and election revocation materials provided to them or filed by Infinera or Nokia in connection with the Transaction before revoking an election.
About Infinera
Infinera is a global supplier of innovative open optical networking solutions and advanced optical semiconductors that enable carriers, cloud operators, governments, and enterprises to scale network bandwidth, accelerate service innovation, and automate network operations. Infinera solutions deliver industry-leading economics and performance in long-haul, submarine, data center interconnect, and metro transport applications. To learn more about Infinera, visit www.infinera.com, follow us on X and LinkedIn, and subscribe for updates.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Transaction and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, and there will not be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this communication may be characterized as forward-looking under the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially.
Statements in this communication that are forward-looking may include statements regarding the anticipated closing of the Transaction and related matters.
Risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, in addition to those identified above, include: (1) the possibility that the conditions to the closing of the Transaction are not satisfied, including the risk that required regulatory approvals to consummate the Transaction are not obtained, on a timely basis or at all; (2) the occurrence of any event, change or other circumstance that could give rise to a right to terminate the Transaction; (3) possible disruption related to the Transaction to the current plans, operations and business relationships of Nokia and Infinera, including through the loss of customers and employees; (4) the amount of the costs, fees, expenses and other charges incurred by Nokia and Infinera related to the Transaction; (5) the possibility that the stock prices of Nokia or Infinera could fluctuate during the pendency of the Transaction and may decline if the Transaction is not completed; (6) for both Nokia and Infinera, the possible diversion of management’s time and attention from ongoing business operations and opportunities; (7) the response of competitors and other market participants to the Transaction; (8) potential litigation relating to the Transaction; (9) uncertainty as to the timing of completion of the Transaction and the ability of each party to consummate the Transaction; and (10) the other risks and uncertainties detailed in the periodic reports that Nokia and Infinera file with the SEC. All forward-looking statements in this communication are based on information available to Infinera as of the date of this communication, and, except as required by law, Infinera does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Contacts
Amitabh Passi
apassi@infinera.com
FAQ
When is Nokia's acquisition of Infinera (INFN) expected to close?
What is the deadline for Infinera (INFN) shareholders to revoke their merger consideration election?
How much cash will Infinera (INFN) shareholders receive per share after revoking their election?
Can Infinera (INFN) shareholders sell their shares after the Election Revocation Deadline?
How can Infinera (INFN) shareholders revoke their merger consideration election?
