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ADVA Optical Networking Completes Tender Offer for Acquisition of MRV Communications, Inc.

August 2017 by Marc Jacob

ADVA Optical Networking announced that a majority of the
shares of MRV Communications, Inc. were validly tendered and the
other conditions to the tender offer have been satisfied. American Stock
Transfer & Trust Company LLC, the depositary for the tender offer, has
indicated that as of midnight EDT, Friday, August 11, 2017, a total of
5,296,053 shares of MRV Communications, Inc.’s common stock, or approximately
79% of the total number of shares issued and outstanding, have been validly
tendered into and not properly withdrawn from the tender offer. The depositary
has indicated that no shares were tendered pursuant to the guaranteed delivery
procedures set forth in the Offer to Purchase.

The acquisition of MRV Communications, Inc.
will be consummated by ADVA Optical Networking on Monday, August 14, 2017. ADVA
Optical Networking will consummate the acquisition of the remaining MRV
Communications, Inc. shares of common stock not acquired in the tender offer
through a merger pursuant to Section 251(h) of the General Corporation Law
of the State of Delaware. As a result of such merger, MRV Communications, Inc.
will become an indirect wholly-owned subsidiary of ADVA Optical Networking and
MRV Communications, Inc. shares will no longer be traded on the NASDAQ Stock
Market.


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