JDS Uniphase Gains 5% on Merger Approval
JDS Uniphase
(JDSU)
was up 5% in preopen
Island
trading after several news services reported that the fiber-optic equipment company has
won approval to buy
SDL
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The reports, quoting unnamed sources, said an announcement would be made today.
SDL lately was up 7.2%.
To clear the way for the deal, JDS Uniphase will sell a laser manufacturing plant to
Nortel
(NT)
for as much as $3 billion in stock.
