JDS and E-TEK Merger Ok'd by Justice Department

NEPEAN, Ontario, Canada, June 23 -- A merger between JDS Uniphase Corp. and E-TEK Dynamics Inc. (San Jose, Calif.) has been approved by the US Department of Justice, giving the merger antitrust clearance. Provided E-TEK's stockholders approve the merger in a meeting set for June 28, and assuming all of the conditions specified in the merger agreement are met, the transaction will be complete, said JDS Uniphase.
As terms of the consent decree with the Justice Department, the companies will give up -- over a period of 90 days -- a number of E-TEK's first refusal rights for the output from coating chambers used to manufacture thin-film filters owned by BarrAssociates, Herrmann Technology Inc., Hoya Corp. USA, and OCJ Corp.