MUNICH, November 23, 2021– (COMMERCIAL THREAD) – ADVA (FSE: ADV) today announced that its board of directors and supervisory board have issued a joint reasoned statement in accordance with Article 27 of the German Takeover Act regarding the offer document issued by ADTRAN, Inc. subsidiary Acorn HoldCo, Inc. on November 12, 2021. After due process of review, they recommend that ADVA shareholders accept the above-mentioned offer.
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Brian Protiva, CEO, ADVA (Photo: Business Wire)
The members of the management board and the supervisory board believe that the compensation offered is appropriate and fair and in the best interests of ADVA and its shareholders.
“We look forward to the planned business combination with ADTRAN and are confident that our shareholders will seize this wonderful opportunity to create an innovation leader in our industry’s most exciting market space,” said Brian Protiva, CEO of ADVA. “We are in the early stages of an unprecedented investment cycle in fiber expansion with the goal of delivering high-speed connectivity to all homes, businesses and future 5G infrastructure. This expansion of digital infrastructure requires new innovative solutions at the network level With ADTRAN, we are creating an industry leader in this space that offers the most comprehensive and unique portfolio of solutions based on openness, l scalability, security and software-controlled automation.
The joint declaration issued by the management board and the supervisory board is available online on the company’s website. transactions section. It is available in German and an English translation without obligation. Only the German original is valid. Shareholders are advised to read the joint statement and consider its content as well as their personal situation before making their decision whether or not to accept the offer.
Disclaimer: This document contains forward-looking statements based on current estimates and assumptions made by the management of ADVA Optical Networking SE. These forward-looking statements are subject to risks and uncertainties, the non-occurrence or occurrence of which could cause actual results – including the financial position and profitability of ADVA Optical Networking SE – to differ materially or be more negative. than those expressed or implied by these forward-looking statements. This also applies to forward-looking estimates and forecasts derived from third-party studies. Therefore, neither ADVA Optical Networking SE nor its management can guarantee the future accuracy of the opinions expressed in this document or the actual occurrence of anticipated developments.
ADVA is a company founded on innovation and focused on the success of our customers. Our technology is the building blocks of a shared digital future and strengthens networks around the world. We are continually developing revolutionary hardware and software that dominates the networking industry and creates new business opportunities. It is these open connectivity solutions that enable our customers to deliver the cloud and mobile services that are vital for today’s society and for imagining new tomorrows. Together, we are building a truly connected and sustainable future. For more information on how we can help you, please visit us at www.adva.com.
ADVA Optical Networking SE, Munich, Germany
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