Adtran announced an agreement to acquire networking services company ADVA in a deal valued at EUR789 million ($931.1 million). Under terms of the deal, each ADVA shares will be exchanged for 0.8244 shares of the stock of the new holding company, which values ADVA shares at EUR14.84 each, or a 22% premium to the three-month volume weighted average price over the past three months.
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