graphic
News > Technology
E-TEK shares rocket 43%
January 18, 2000: 2:47 p.m. ET

Following fiber optics firms' merger announcement, JDSU shares also rise
graphic
graphic graphic
graphic
NEW YORK (CNNfn) - The proposed merger between fiber optics providers JDS Uniphase Corp. and E-TEK Dynamics Inc. sent both companies' shares sharply higher Tuesday.
    In late afternoon trading, E-TEK zoomed 58-1/8 or 43 percent to 194.  JDS Uniphase, a relative laggard, climbed nearly 5 percent, up 9-5/16 to 201-1/2.
    Late Monday, JDS Uniphase unveiled its plans to take over rival E-TEK Dynamics Inc. in an all-stock deal worth roughly $15 billion.
    Under the agreement, E-TEK holders will get 1.1 shares of JDS for every E-TEK share held. E-TEK, also a player in the world of fiber optic equipment, will become a wholly held unit of JDS once the deal is completed.
    The merger is conditional upon E-TEK  (ETEK) shareholder and regulatory approval, the companies said.
    JDS (JDSU) and E-TEK also announced that they signed a mutual supply deal to let them immediately boost the supply of certain products to customers. Back to top
    --from staff and wire reports

  RELATED STORIES

E-Tek blasts off in IPO - Dec. 02, 1998
  RELATED SITES

JDS Uniphase

E-TEK

Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney




graphic

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Advertising Practices.
Live Quotes automatically refresh, but individual equities are delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET.
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.
Home | Contact Us | Advertise with Us | Corrections | Career Opportunities | Site Map
RSS | Email Delivery | Portfolio | Podcasts | Mobile | Widgets | User Preferences | Special Sections
| Magazine Customer Service | Download Fortune Lists | Reprints | Conferences | Business Leader Council