II-VI to Acquire Finisar for $3.2 Billion

November 9, 2018

Cleary Gottlieb is representing BofA Merrill Lynch as financial advisor to II-VI Inc. (II-VI) in connection with its proposed acquisition of Finisar Corp. (Finisar).

The transaction was announced on November 9, 2018.

Under the terms of the merger agreement, Finisar’s stockholders will receive, on a prorated basis, $15.60 per share in cash and 0.23x shares of II-VI common stock, valued at $10.40 per share. The transaction values Finisar at $26 per share, or approximately $3.2 billion in equity value.

Upon closing of the transaction, Finisar stockholders would own approximately 31 percent of the combined company. The transaction is expected to close by mid-2019, subject to stockholder and regulatory approvals and other customary closing conditions.

II-VI is a global leader in engineered materials and optoelectronic components. Finisar is a global technology leader in optical communications.