VIAV - VIAVI raises offer for EXFO to $459 million

Viavi Solutions (VIAV) announces an increased binding offer to acquire all of the outstanding shares of EXFO (EXFO) from $7.50 to $8.00 in cash per share.The increased binding Proposal from VIAVI reflects EXFO's recently announced fiscal Q3 2021 financial results, in which bookings increased 47.2% yr/yr to $87 million with a book-to-bill ratio at 1.20.VIAVI's Proposal now values EXFO at ~$459 million on an undiluted basis. EXFO's solid results and prospects, says VIAVI, "further underpin the inadequate US$6.00 consideration of the Going Private Transaction."Previously (June 16): EXFO's Lamonde again rejects Viavi buyout offer.

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VIAVI raises offer for EXFO to $459 million