QUEBEC CITY – EXFO Inc. has filed an all-cash voluntary tender offer for the outstanding shares of French network and subscriber intelligence provider Astellia.
The Canadian network test and monitoring technology maker bought a 33.1% equity stake in Astellia in August, and said Tuesday that 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 acquisition.
The fairness of the offer's financial terms was confirmed by independent expert Associés en Finance. On the basis of such report, the Board of Directors of Astellia unanimously considered that the public tender offer is the interests of the company, its shareholders and its employees and therefore recommended that Astellia's shareholders tender their shares to the offer.
The full draft offer document will be available in French on the Autorité des marchés financiers website and here on EXFO’s website.
