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Corning completes deal to acquire 77.93% of Alliance Fiber Optic Products

Corning Inc. on June 3 closed its deal to acquire 77.93% of Alliance Fiber Optic Products Inc. for a transaction value of $201.5 million.

The company offered $18.5 per share for the stake.

In addition to general closing conditions, the deal required additional review for antitrust concerns.

Shearman & Sterling LLP was the legal adviser for Corning.

Cowen and Co. LLC was the financial adviser for Alliance Fiber Optic Products, while Pillsbury Winthrop Shaw Pittman LLP was the legal adviser.