Infinera Shares Climb on Deal to Be Acquired by Nokia
Provided by
Dow Jones
By Matt Walker
Infinera's shares were up 19% to $6.29 in post-market trading on Thursday after Nokia agreed to buy the company for $2.3 billion.
The stock closed the regular trading session up 1.5% at $5.26. The deal valued Infinera at $6.65 a share.
Nokia, the Finland-based maker of 5G cellular antennas and other telecom infrastructure, said the combination with Infinera, a networking solutions provider, is expected to accelerate its path to double-digit operating margins in its optical networks business.
Write to Matt Walker at matthew.walker@dowjones.com
(END) Dow Jones Newswires
June 27, 2024 18:49 ET (22:49 GMT)
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