JDSU signs agreement with Amada to purchase preferred stock of subsidiary
JDSU, Milpitas, Calif., has signed a definitive agreement with Amada Holdings Co. Ltd. of Japan, a manufacturer of machine tools for metal fabrication, to purchase up to $40 million of preferred stock of a subsidiary of Lumentum Holdings Inc., the publicly traded company that will result from the planned spinoff of the CCOP business unit from JDSU.
The spinoff is expected to happen in Q3 2015.
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