SCOTTSDALE, Ariz. – Viavi Solutions Inc. released another statement today in its ongoing quest to buy EXFO, Inc., a Quebec-based telecom testing and monitoring solution provider that founder and controlling shareholder Germain Lamonde is planning on taking private.
Viavi is urging an EXFO Special Committee “to stop recommending Mr. Lamonde’s inferior going private transaction that deprives shareholders of an additional US$2.00 per share in value,” a press release reads. Viavi recently made an offer of US$8.00 cash per share to buy the company, which more than Lamonde’s offer of US$6 per share to take it private.
The company wants EXFO shareholders to vote against Lamonde’s offer “prior to the August 11, 2021 proxy voting deadline,” the press release states.
In support of its position, Viavi also announced Glass, Lewis & Co., a proxy advisory firm, recommended EXFO shareholders vote against Lamonde’s going-private transaction.
