According to an industry analyst, Ciena Corp. is among two finalists in the running to buy Nortel’s Metro Ethernet Network business under the same “stalking horse” process used to sell the CDMA and enterprises businesses.
LightReading reports that Jefferies & Co. analyst George Notter believes Ciena and a private equity investor have made an offer.
During Ciena’s third-quarter results conference call, CEO Gary Smith suggested that industry “consolidation is helpful” within the telecom equipment market.
Nortel put MEN on the block last September, so it’s nearly been a year without a deal being completed.
I can see why Ciena would want it, but they won't get it. There is no way Nortel MEN will go to Ciena. It would be like BMW selling to Ford. IThey could be the low-bid stalking horse. I guess you have to start somewhere.
whopperscan
Taking forever, isn't it? Been a year, nothing… there can't be any good omens in that at all.
And one can only wonder about Wireline and GSM… is it a pun to say deathly silence on those?
Teleguy
It doesn't mean anything. The world was going through a recession and Nortel had declared bankruptcy protection, which would kill any potential deal to buy the business. I think there will be the most bidders for this unit.
less
If it happens they could change their name to Ziena in homage to the One Man Who Made All Things Possible…
zeroman
bullish on Ciena. only they have to toss their team to the lions or Nortels due to overlap.
NewAge
Leave MEN alone!
scalppeeler
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happy2b
MEN is a hard sell, tough competition, minimal profit margins, small market, market saturation in 6 to 12 months. MEN has had the “For Sale” sign on it for a year now with no buyers. Prediction, buyer will take the photonic technology (the only thing MEN has), incorporate it into their own product line and dump the Nortel stuff, expect massive layoffs.
happy2b
MEN is a hard sell, tough competition, minimal profit margins, small market, market saturation in 6 to 12 months. MEN has had the “For Sale” sign on it for a year now with no buyers. Prediction, buyer will take the photonic technology (the only thing MEN has), incorporate it into their own product line and dump the Nortel stuff, expect massive layoffs.
Ciena Hunting for MEN
According to an industry analyst, Ciena Corp. is among two finalists in the running to buy Nortel’s Metro Ethernet Network business under the same “stalking horse” process used to sell the CDMA and enterprises businesses.
LightReading reports that Jefferies & Co. analyst George Notter believes Ciena and a private equity investor have made an offer.
During Ciena’s third-quarter results conference call, CEO Gary Smith suggested that industry “consolidation is helpful” within the telecom equipment market.
Nortel put MEN on the block last September, so it’s nearly been a year without a deal being completed.