JDS Uniphase Breakup Plan Said to Follow Push by Investor

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JDS Uniphase Corp.’s plan to separate into two publicly traded companies gained momentum following pressure by hedge fund Sandell Asset Management to split up, people with knowledge of the matter said.

The shares of JDS Uniphase climbed 10 percent to $13.36 at the close in New York, following the announcement that the company will separate into one unit building optical components and commercial lasers and another selling network-testing equipment. JDS Uniphase disclosed the split in a filingBloomberg Terminal yesterday, and its market capitalization rose to $3.07 billion from $2.78 billion.