Nokia to Acquire Infinera in Merger Agreement
Ticker: NOKBF · Form: 6-K · Filed: Jun 28, 2024 · CIK: 924613
| Field | Detail |
|---|---|
| Company | Nokia Corp (NOKBF) |
| Form Type | 6-K |
| Filed Date | Jun 28, 2024 |
| Risk Level | medium |
| Pages | 12 |
| Reading Time | 14 min |
| Key Dollar Amounts | $0.001, $6, $4, $6.65, $65 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, merger, telecommunications
TL;DR
Nokia is buying Infinera via a merger agreement signed June 27th.
AI Summary
On June 27, 2024, Nokia Corporation entered into an Agreement and Plan of Merger with Infinera Corporation and its subsidiary, Neptune of America Corporation. This agreement outlines the terms for Merger Sub to merge with and into Infinera, effectively initiating a business combination between the two companies.
Why It Matters
This merger signifies a significant strategic move by Nokia to expand its market presence and technological capabilities within the telecommunications sector.
Risk Assessment
Risk Level: medium — Mergers and acquisitions carry inherent risks related to integration, regulatory approval, and market reception.
Key Players & Entities
- Nokia Corporation (company) — Acquiring company
- Infinera Corporation (company) — Target company
- Neptune of America Corporation (company) — Merger subsidiary
- June 27, 2024 (date) — Date of Merger Agreement
FAQ
What is the primary purpose of the filing?
The filing reports on Nokia Corporation entering into an Agreement and Plan of Merger with Infinera Corporation and Neptune of America Corporation on June 27, 2024.
Who are the parties involved in the merger agreement?
The parties are Nokia Corporation, Infinera Corporation, and Neptune of America Corporation (Merger Sub).
What is the role of Neptune of America Corporation?
Neptune of America Corporation is designated as 'Merger Sub' and will merge with and into Infinera Corporation.
When was the Merger Agreement entered into?
The Merger Agreement was entered into on June 27, 2024.
What type of filing is this for Nokia Corporation?
This is a Form 6-K report, indicating it's a Report of Foreign Private Issuer.
Filing Stats: 3,520 words · 14 min read · ~12 pages · Grade level 18.6 · Accepted 2024-06-28 08:57:48
Key Financial Figures
- $0.001 — re of Infineras common stock, par value $0.001 per share (the Company Common Stock) (o
- $6 — following: cash in an amount equal to $6.65, without interest (the Cash Consider
- $4 — Ratio); or cash in an amount equal to $4.66, without interest, and 0.5355 Nokia
- $6.65 — nditions, such Company PSU will receive $6.65 per Company PSU in cash. If such Comp
- $65 million — uired to pay Nokia a termination fee of $65 million. Specifically, this termination fee is
- $130 million — ed to pay Infinera a termination fee of $130 million. Specifically, this termination fee is
Filing Documents
- d824486d6k.htm (6-K) — 53KB
- d824486dex991.htm (EX-99.1) — 615KB
- d824486dex992.htm (EX-99.2) — 66KB
- d824486dex993.htm (EX-99.3) — 44KB
- g824486dsp01.jpg (GRAPHIC) — 3KB
- g824486dsp01a.jpg (GRAPHIC) — 2KB
- 0001193125-24-171437.txt ( ) — 787KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant, Nokia Corporation, has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Nokia Corporation Date: June 28, 2024 By: /s/ Johanna Mandelin Name: Johanna Mandelin Title: Global Head of Corporate Legal By: /s/ Tatu Simula Name: Tatu Simula Title: Senior Legal Counsel