Frank Levinson, chairman, founder, and CTO of Finisar Corp. (Nasdaq: FNSR), has denied a rumor that a possible acquisition by Emulex Corp. (NYSE: ELX) is in the works.
The rumor was triggered by a report that a team of auditors from Emulex spent the latter part of last week camped in Finisar's active components division in El Monte, Calif. This came from a consultant -- a previously reliable Light Reading source -- who went on to suggest that Emulex would soon make a bid for Finisar.
Finisar didn't respond to requests for comment on Friday, suggesting there was some truth to the story.
However, Levinson -- or someone claiming to be Levinson -- jumped into action in the early hours of Saturday morning, posting a message on the board following this story which began:
"As Finisar's largest shareholder, CTO, Chairman and founder I can state categorically that there is no truth in this rumor. Emulex did not have any auditors at Finisar this week for any financial review. We are not in discussions with Emulex on any matters except normal vendor customer matters."
Click here to read the full message, and a
subsequent message pointing out: "If you are going to lie to the press, you don't have the Chairman do it."