ADVA shares and ADTRAN shares stronger: Ministry of Economic Affairs approves takeover

taketonews

ADVA announced on Wednesday in Munich that the Federal Ministry for Economic Affairs and Climate Protection (BMWK) had issued the necessary approval under foreign trade law. All of the conditions for execution were thus met. The exchange offer is to be completed by July 15, but no later than July 18.

ADVA previously offered concessions to secure the purchase. A company spokesman told the “Handelsblatt” in February that the telecommunications group was planning to spin off security-related parts of the company into a subsidiary that was not affected by the takeover.

ADVA shares ended XETRA trading on Wednesday 2.38 percent higher at EUR 16.79, while ADTRAN shares temporarily gained 4.38 percent in NASDAQ trading at USD 18.82.

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MUNICH (dpa-AFX)

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Image credits: ADVA Optical Networking

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