Updated from 4:58 p.m. ET
are apparently still waiting for the
to give the all clear, and have again pushed back the expected closing date of their merger.
The networking companies said they have submitted a proposal to the Justice Department to remedy antitrust concerns over their planned merger, and now expect to complete the transaction in February. JDS said it wouldn't release the details of the proposal until the Justice Department signs off, but will disclose the offer in regulatory filings before shareholders meet to vote on the merger, which has been rescheduled for Feb. 12.
completion of the merger has already been delayed because of the time required to finish the regulatory approval process. On Dec. 18, the companies said they expected to close the deal in January. Originally, the companies expected to complete the merger by the end of December.
JDS ended the regular
trading session at $63.06, while SDL finished at $232.18, but shares of both companies lost ground in after-hours
activity. JDS fell to $60.19, and SDL traded at $220.25.
Earlier this month, reports out of Europe speculated that JDS, in an attempt to clear antitrust hurdles, may sell its Swiss factory to
for $3 billion.
reported that regulatory attention would focus on SDL's main product, the 980 pump laser, a crucial network device that stokes light waves inside optical fibers.
Both companies are based in San Jose, Calif., though JDS also maintains a Canadian base in Nepean, Ontario. JDS will report earnings tomorrow, with analysts expecting the company to post earnings of 19 cents a share, according to
First Call/Thomson Financial
. SDL reported earnings today, saying that fourth-quarter income rose to $48.2 million, or 53 cents a share, excluding charges. The company posted earnings of $12.8 million, or 17 cents, in the year-ago period. Analysts were calling for the company to earn 49 cents in the quarter.