Finisar Corporation takes over Infineon Technologie AG's fiber optics business

Following a multistage auction process, Sunnyvale/California based, NNM-listed Finisar Corporation was accepted as preferred bidder for the acquisition of Infineon Technologies AG's fiber optics business. Through the acquisition of the fiber optics business, which generated a turnover of approx. US$ 32 million with approx. 1,200 employees in the last quarter (Finisar Corporation: US$ 60 million), the worldwide largest optical components entity is created. Closing of the transaction, which is subject to approval of the shareholders of Finisar Corporation and the company's bodies as well as of the competent authorities, is planned for the third quarter of 2004.

The consideration to be paid by Finisar consists of own shares with a value of approx. US$ 263 million, leading to an approx. 38% shareholding of Infineon in Finisar. Therefore, mutual due diligence procedures of both companies in Munich, Berlin and London had to be undertaken. Besides, the shares in Finisar to be transferred to Infineon still need to be listed in the USA.

Legal Advisor Finisar Corporation:

Taylor Wessing (Düsseldorf): Dr. Peter Hellich, Dr. Ernst-Albrecht von Beauvais (both Corporate, M&A), Dr. Alexander Ulrich (Labour Law), Roland Falder (Labour Law, Munich), Dr. Christian Frank (IP, Munich), Jan Wunschel (Real Estate, Munich), Dr. Markus Wirtz (Antitrust Law), Dr. Axel von dem Bussche (IT), David Kent (Corporate, London); Associates: Dr. Oliver Klöck, Eva-Maria Beutler (both Düsseldorf), Matthias Jenn (Munich), John Scott (London), Christian Stuhlmann (Berlin)

Gray Cary Ware & Freidenrich (Palo Alto): Dennis C. Sullivan, Joe Sorenson (both Corporate, M&A), David Colker (Tax), Eric Wang (Antitrust) (Gray Cary advised on US-Securities-, Tax- and Antitrust Law)

Giese & Partner (Prague): Martin Holler, Helena Kopkova, Slavomir Cauder (Giese & Partner advised on the due diligence of the Czech operations of Infineon Technologies AG's Czech operations)

Legal Advisor Infineon Technologies AG:

Freshfields Bruckhaus Deringer (Munich): Dr. Ferdinand Fromholzer, Gerald Schumann (both Corporate, M&A)