Emulex Got New Zealand Governmental Approval to Acquire Endace

Emulex Corporation and Endace Limited (EDA.L), supplier of network visibility infrastructure products, announced that the Emulex takeover offer for Endace has been approved by the New Zealand Overseas Investment Office, and assurances of continuity have been received for the research and development grants Endace receives from the New Zealand Ministry of Science and Innovation.

The closing date for shareholders to submit their shares to the offer is 1 p.m. London time on February 12, 2013.

"We are pleased to have passed these major milestones in our acquisition of Endace. Emulex looks forward to completing the acquisition," said Jim McCluney, CEO of Emulex.

Mike Riley, CEO of Endace, said: "We have been very pleased by the reception that the offer has received from the Endace shareholders and our customers. Our employees are also looking forward to the benefits that the acquisition will bring to Endace’s business."

Endace is a New Zealand incorporated company and therefore the offer was made pursuant to the New Zealand Takeovers Code (NZTC). When the takeover offer was made on December 21, 2012, the closing date of the offer period was set for 1 p.m. London time on January 29, 2013. It was extended to 1 p.m. London time on February 12, 2013 through a notice that Emulex provided on January 14, 2013 under the NZTC. The closing date cannot be extended further unless the offer is declared unconditional as to level of acceptances. As a result, shareholders are urged to submit their takeover offer acceptances to the receiving agent prior to 1 p.m. London time on February 12, 2013.

A copy of Emulex’s Offer, Endace’s response (including the Endace Board recommendation), and the Independent Adviser’s report prepared by Grant Samuel for Endace was sent to Endace shareholders and option holders.