Infinera Urges Stockholders to Decide on Merger Consideration
Key Updates for Infinera Stockholders: Important Election Information
Infinera Corporation (NASDAQ: INFN) has delivered an important reminder to its stockholders regarding the upcoming election for the form of merger consideration related to its acquisition by Nokia Corporation. The deadline to express preferences for this merger consideration is fast approaching, and stockholders must act before the cutoff time.
Merger Consideration Election Deadline
Stockholders must submit a completed election form and all necessary documentation to Computershare Trust Company, N.A. (the Exchange Agent) by 5:00 p.m. New York City time on the specified date. This timeframe marks the last opportunity for stockholders to communicate their preferences, as no submissions can occur beyond this deadline.
Who Needs to Act?
Infinera stockholders wishing to make an election must be vigilant. Those whose shares are held through intermediaries such as banks, brokers, or custodians should be mindful that earlier submission deadlines might apply. They must ensure their election materials are filled out correctly and returned to their broker or other nominees in time.
Consequences of Missing the Election Deadline
If stockholders fail to deliver a completed election form and required materials by the deadline, they will automatically be deemed to have opted for the default choice, receiving $6.65 per share in cash. This emphasizes the need for careful attention to the process.
Voting at Stockholder Meeting
Even if stockholders do not make a valid election, they still have the option to vote their shares at the upcoming special meeting scheduled for 10 a.m. Pacific Time. However, voting rights are only extended to those who owned shares prior to a specific date.
Understanding Merger Consideration Details
As part of the merger, Nokia will determine the total consideration payable, which may involve adjustments and proration based on stockholder elections. It is crucial for stockholders to stay informed about these details as they will influence the final outcomes of their choices.
Revoking Elections and Selling Shares
Stockholders who wish to change their election regarding any shares can do so before the deadline. If they decide to sell or transfer shares, they must revoke their prior elections properly in accordance with the timeline and procedures outlined. Failure to do so could lead to automatic cash conversions.
Contact Information for Election Inquiries
For stockholders wishing to request the Election Form or additional materials, they should reach out to Sodali & Co. Registered holders can call (800) 662-5200, while banks and brokers can connect at (203) 658-9400. Email inquiries can be sent for further assistance.
Importance of Reading All Provided Materials
It is vital for Infinera stockholders to thoroughly review the Proxy Statement/Prospectus, the Election Form, and accompanying documents before making elections. Proper understanding of these materials is essential to navigating the election process effectively.
About Infinera Corporation
Infinera is a leading global provider of innovative optical networking solutions, delivering advanced optical semiconductors designed to empower service providers, cloud operators, and enterprises. Their technologies are crucial for developing scalable networking bandwidth and service automation across various applications, including long-haul and metro networks.
Frequently Asked Questions
What is the Election Deadline for Infinera Stockholders?
The Election Deadline for stockholders to elect their form of merger consideration is 5:00 p.m. New York City time on a specified date.
How can I confirm my election choice?
Stockholders should submit a completed election form to the Exchange Agent or their broker before the deadline to confirm their choice.
What happens if I miss the election deadline?
If you miss the election deadline, you will be deemed to have accepted the default cash payment option of $6.65 per share.
Can I vote at the special stockholder meeting if I do not make an election?
Yes, you can still vote at the special meeting as long as you owned shares by the specified previous date.
Where can I find more information about the merger?
Stockholders should consult the Proxy Statement/Prospectus and related documents for full details regarding the merger and election process.
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