JDSU Responds to Below Market 'Mini-Tender' Offer From TRC Capital
07 11월 2006 - 6:05AM
PR Newswire (US)
MILPITAS, Calif., Nov. 6 /PRNewswire-FirstCall/ -- JDSU (Nasdaq:
JDSUD; and TSX: JDU) today announced that it has received an
unsolicited "mini-tender" offer from TRC Capital Corporation to
purchase from JDSU stockholders up to 3 million shares of JDSU
common stock, or approximately 1.4% of its total outstanding
shares, for $14.00 per share. The offer price represents an 18.4%
discount to JDSU's closing price of $16.58 on November 3, 2006, and
a 3.7% discount to JDSU's closing price of $14.53 per share on
October 31, 2006, the day the offer was made. JDSU does not endorse
or recommend TRC Capital's "mini-tender" offer, and wishes to
inform its stockholders that it is not associated with TRC Capital,
the offer or the offer documentation. JDSU understands that TRC
Capital has made numerous "mini-tender" offers for shares of other
companies. "Mini-tender" offers are third-party offers to purchase
less than five percent of a company's shares, thereby avoiding most
of the filing, disclosure and procedural requirements of the
Securities and Exchange Commission (SEC). The SEC has issued an
investor alert regarding "mini-tender" offers, noting that "some
bidders make mini-tender offers at below-market prices, hoping that
they will catch investors off guard if the investors do not compare
the offer price to the current market price." JDSU encourages
stockholders to read the SEC's article on this subject, which is
available at http://www.sec.gov/investor/pubs/minitend.htm . JDSU
urges stockholders to obtain current market quotations for their
shares, to consult with their own brokers or financial advisors,
and to request a copy of the offer from TRC Capital to review,
before deciding whether to sell their shares. About JDSU JDSU is
committed to enabling broadband & optical innovation in the
communications, commercial and consumer markets. JDSU is a leading
provider of communications test and measurement solutions and
optical products for telecommunications service providers, cable
operators, and network equipment manufacturers. Furthermore, JDSU
is a leading provider of innovative optical solutions for
medical/environmental instrumentation, semiconductor processing,
display, brand authentication, aerospace and defense, and
decorative applications. More information is available at
http://www.jdsu.com/ . Following the completion of a 1-for-8
reverse stock split on October 16, 2006, JDSU's common stock is
trading under the temporary trading symbol "JDSUD." The trading
symbol will revert back to "JDSU" on November 14, 2006. Investors:
Jacquie Ross, 408-546-4445 or
http://www.newscom.com/cgi-bin/prnh/20050913/SFTU125LOGO
http://photoarchive.ap.org/ DATASOURCE: JDSU CONTACT: investors,
Jacquie Ross, +1-408-546-4445, or ; or media, Kathleen Greene,
+1-408-546-5852, or , both of JDSU Web site: http://www.jdsu.com/
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