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Has terminated the proposed acquisition of Marlow Industries
June 19, 2001
SUNNYVALE, Calif. -- Finisar Corporation (Nasdaq:FNSR), a technology leader in gigabit fiber optic solutions for high-speed data networks, today reported that it has terminated the proposed acquisition of Marlow Industries, Inc., in accordance with the pertinent provisions of the merger agreement between the two companies. "We are disappointed that adverse economic conditions, particularly in the telecommunications industry, prevent the acquisition of Marlow Industries from proceeding as planned," said Jerry Rawls, Finisar's President and CEO. "However, we continue to view Marlow Industries as a fine company and may continue to hold discussions with them concerning other ways in which we might work together or enter into a new agreement with revised economic terms."Finisar Corp.
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