Nokia To Acquire Infinera: Infinera's Stock Soars
Portfolio Pulse from Erica Kollmann
Nokia Corp (NYSE:NOK) will acquire Infinera Corporation (NASDAQ:INFN) in a transaction valuing Infinera at $6.65 per share, representing a 28% premium to its recent share price. The deal is expected to be accretive to Nokia's earnings per share in the first year post-close.
June 27, 2024 | 9:10 pm
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POSITIVE IMPACT
Infinera's stock surged 21.48% after-hours following the announcement of its acquisition by Nokia at a 28% premium. The deal values Infinera at $6.65 per share.
The acquisition announcement at a significant premium has led to a sharp increase in Infinera's stock price. The market is reacting positively to the premium offered.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Nokia's stock fell 2.14% after-hours following the announcement of its acquisition of Infinera. The deal is expected to be accretive to Nokia's earnings per share in the first year post-close.
Nokia's stock declined likely due to concerns about the immediate financial impact of the acquisition. However, the deal is expected to be beneficial in the long term by being accretive to earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100