Opnext Says Unsolicited PE-Backed Offer Isn’t Superior

Opnext said Monday that in May a technology-focused PE firm made unsolicted non-binding offer to buy the company for $1.40 a share. Opnext said the offer was not superior to its proposed merger with Oclaro. Fremont, Calif.-based Opnet, which makes and designs optical modules and components, said the merger with Oclaro, subject to regulatory approval, is on track to close early in third calendar quarter of 2012.