Occam shareholder group rails against Calix's acquisition proposal

A deal is a deal right? Well, three of Occam Networks' shareholders that collectively hold a 19 percent stake in the last mile company believe they are being shortchanged by their acquirer Calix.

The shareholder trio, which includes Michael Steinhardt, Herbert Chen, and Derek Sheeler, said in a letter to Occam Networks' chairman Steven Krausz they don't understand why they are selling the company "just as revenues are beginning to ramp."

"We believe that the board of directors of Occam has acted, once again, with reckless and wanton disregard for its shareholders, and we hereby demand that the board move immediately to open up the sales process by auctioning the company to the highest bidder," wrote the three shareholders in the letter.

Occam's shareholders aren't the only one that think they're getting a raw deal. The letter cites Jeff Heynen, Directing Analyst of Broadband and Video at Infonetics Research, who said "it was a great value for Calix, and maybe Occam sold themselves a bit short."  

For more:
- see the letter here

Related articles:
Calix and Occam: A tale of two different, yet similar, vendors
Calix to buy Occam Networks

Suggested Articles

Mediation between Windstream and spinoff Uniti Group ended as both parties are too far apart on talks that are key to their respective futures.

GTT Communications reported a loss of $26.2 million in its third quarter compared to a net loss of $23.4 million in the same quarter a year ago.

Huawei said on Tuesday that it would give its employees $286 million in cash bonuses as a reward for weathering the U.S. trade blacklisting.