expect to complete their merger in January because of the time required to finish the regulatory approval process.
The companies previously expected to close the deal by the end of December. The companies' shareholders were initially scheduled to vote on the deal Dec. 27, but those meetings have been postponed. The companies will set a later date for shareholders to vote on the merger.
In July, JDS Uniphase agreed to acquire SDL for about $41 billion in stock. Based on current prices, the merger is now valued at about half of that.
Shares of JDS Uniphase recently traded at $59.88, up $1.38, or 2.4%. SDL gained $8, or 3.9%, to $212.75.