Kirkland & Ellis LLP advised Coriant, a privately held, global supplier of open, hyperscale network solutions, on its definitive agreement to be acquired by Infinera, provider of Intelligent Transport Networks. Under the terms of the definitive purchase agreement governing the acquisition, subject to customary adjustments, Infinera will pay approximately $150 million in cash at closing, and estimated additional amounts of $25 million in the two quarters post-closing and $55 million over a period of years. Infinera will issue approximately 21 million shares, which when combined with the cash consideration, results in total transaction consideration of approximately $430 million. The full release is available here.
The Kirkland team was led by corporate partner Hamed Meshki and associate Michele Cumpston and included corporate associates Nathan Rahmanou and Tiffany Mason; capital markets partner Dennis Myers; real estate partner Roberto Miceli and associates Hannah Ehrenberg and Robin Basu; tax partners Russell Light and Josh McLane and associate Christopher Worek; and debt finance partner David Nemecek and associates Katrina Olsen, Liliya Gritsenko and Ruby Yang.