TECHNOLOGY - June 23, 2000

JDS Uniphase Corp.’s $19.7-billion purchase of rival fiber-optic component maker E-Tek Dynamics Inc. won approval from federal antitrust authorities on condition the companies sell off supply contracts for a key part. Without the divestiture, the two San Jose companies would control 80% of the world’s output of thin-film filters, a key component used to divide light in fiber-optic cables, the Justice Department said. On Nasdaq, JDS Uniphase dropped $3.94 to close at $125, and E-Tek fell $7.13 to close at $269.38, before the approval was announced.