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Monday, Jul 15, 2024

Sale of OCP Shares Closes

Oplink Communications, Inc. closed on its purchase of a majority share of fiber optic components manufacturer Optical Communications Products, Inc. The Furukawa Electric Co. sold its 58 percent share in Woodland Hills-based OCP for $1.50 per share payable in cash and Oplink stock. Oplink is expected to purchase the remaining shares of OCP at $1.65 per share and close that deal within the third quarter of 2007. With Oplink holding a majority share of OCP, the future of the Valley company is up in the air. Following the April announcement of a deal between Oplink and Furukawa, the OCP board adopted a “poison pill” provision to delay the buyout. Oplink in turn filed a lawsuit challenging the validity of that provision. But in late May, Furukawa added members to the OCP board that guaranteed the sale of its OCP sales to Oplink would go through.

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