EXFO’s majority shareholder rejects new Viavi purchase offer

QUEBEC CITY — EXFO Inc.’s founder and controlling shareholder Germain Lamonde today announced he has yet again rejected an unsolicited proposal from Scottsdale, Ariz.-based Viavi Solutions to acquire EXFO, a Quebec-based telecom testing and monitoring solution provider. Viavi, which also sells network test and monitoring solutions, announced this morning it has increased its acquisition offer to US$8 from the US$7.50 it offered in June for each outstanding subordinate voting share and multiple voting share of EXFO. Lamonde plans to take EXFO private and is offering US$6 per share to shareholders of EXFO’s subordinate voting shares. In a statement issued today,...