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REDWOOD SHORES, CA, November 20, 2014 — Covington & Burling advised Oplink Communications, Inc. in its sale to Koch Optics, Inc., a wholly owned Koch Industries subsidiary. The all-cash transaction is valued at approximately $445 million.
Under the terms of the deal, announced Wednesday, Koch Optics will commence a tender offer and subsequent merger for all of the outstanding shares of Oplink common stock for $24.25 per share. The closing of the tender offer is subject to customary conditions, including United States antitrust clearance.
Oplink, based in Fremont, Calif., provides custom design and manufacturing services for optical components. Oplink will be managed by Molex, a global electronics components company and Koch Industries subsidiary. The transaction is expected to expand Molex's fiber optic capabilities.
The Covington team was led by Scott Anthony, Jack Bodner, and Jonas Marson, with assistance from Christian Ling and Reid Hooper.