On July 26, 2021, Viavi Solutions Inc. submitted a proposal to acquire EXFO Inc. from G. Lamonde Investissements Financiers Inc. and others for approximately CAD 520 million on June 16, 2021. Viavi Solutions announced an increased binding proposal to CAD 10.12 per share on July 20, 2021. The revised offer made on July 20, 2021 represented premium of 116% to the NASDAQ closing price on June 4, 2021, the trading day before the announcement of the going private transaction by Germain Lamonde; 33.3% to consideration offered under the Going Private Transaction; and 6.7% to VIAVI's previous already-superior proposal to acquire the Company. the EXFO Special Committee of the Board of Directors rejected the offer on June 17, 2021. In addition, Viavi Solutions Inc. stated that it has cancelled the acquisition of EXFO Inc. from G. Lamonde Investissements Financiers Inc. and others on July 26, 2021.