WICHITA, Kan. (AP) A subsidiary of Koch Industries Inc. has completed its acquisition of optical network device company Oplink Communications Inc.
The companies announced Tuesday that Koch Optics Inc. has acquired 14,701,501 shares at a price of $24.25 per share. The deal represents about 83.8 percent of Optlink’s outstanding shares.
Last month’s tender offer for all of Oplinks’ outstanding shares expired on Monday. The companies subsequently completed the merger, effective Tuesday, without a vote or meeting of Oplink’s shareholders.
Oplink survives as a wholly owned subsidiary of Koch Industries. Its shares ceased trading on the NASDAQ Global Market prior to the Tuesday’s opening.
Wichita, Kansas,-based Koch Industries owns companies in various industries such as chemicals, refining, forest and consumer products, fertilizers, electronic components, minerals and energy.
Oplink is based in Fremont, California.