Clearly not satisfied with a $511-million offer from Ciena, Nortel has decided to tack on an additional four days for others to make offers for its optical networking and carrier Ethernet business. The deadline is now Nov. 17.
Nortel said the decision was made “in light of ongoing discussions with interested parties”. The company expects to provide a further update on the auction process and sale of these businesses next week.
Shares have gone up only if Ciena wins at current bid or if they walk away empty handed. Since nothing has happened yet and there has been a delay a suggestion is they are only bidder. This could be true or false. Truth to be know soon. Shares go down if bidding war and they are not the only bidder. So translation means market thinks it is a bad deal for Ciena UNLESS they succeed with their current bid or are outbid. Bad deal if they win a bidding war should their be one based on size and worth of Ciena. Second translation means current Ciena bid is a steal.
zeroman
yes but they cloned it for metro then canned it and sent it back. it was called ERS and MERS if I remember.
wasNorteler
MEN is an ice-burg: an attractive shiny tip with a huge potential to sink any buyer.
TellNo
Apparently, Ciena share holders are happy with the auction delay.
ciena stock goes up since bid delayed. it only gives a sense of the market thinking its a bad deal for ciena.
scalppeeler
Shares have gone up only if Ciena wins at current bid or if they walk away empty handed. Since nothing has happened yet and there has been a delay a suggestion is they are only bidder. This could be true or false. Truth to be know soon. Shares go down if bidding war and they are not the only bidder. So translation means market thinks it is a bad deal for Ciena UNLESS they succeed with their current bid or are outbid. Bad deal if they win a bidding war should their be one based on size and worth of Ciena. Second translation means current Ciena bid is a steal.
Four More Days for Optical Bids
Clearly not satisfied with a $511-million offer from Ciena, Nortel has decided to tack on an additional four days for others to make offers for its optical networking and carrier Ethernet business. The deadline is now Nov. 17.
Nortel said the decision was made “in light of ongoing discussions with interested parties”. The company expects to provide a further update on the auction process and sale of these businesses next week.