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Tag Archives: auction
Nortel’s M&A Scorecard
Update: The auction of the GSM/GSM-R business is being held today. It has been nearly a year since Nortel filed for bankruptcy protection, and five months since the company announced it was going to sell all of its assets instead of attempting to emerge as the New Nortel. Here’s a scorecard of what’s been sold, [...]
Ciena Goes Higher for MEN
Ciena has apparently bumped up its offer for Nortel’s optical networking and carrier Ethernet business by about 40% to $714 million. Reuters reports that Ciena’s new bid is $500 million in cash and $214 million in convertible notes. This compares with the original “stalking horse” offer of $350-million cash and 10 million shares. The offer [...]
Will Lower MEN Sales Cause No More Bids?
With only two days left to submit bids for Nortel’s metro Ethernet network business, the big question is whether anyone else will step up to the plate, or whether Ciena’s $511-million cash-and-stock bid will be the only offer. For potential bidders, an alarming signal was the fact that MEN’s third quarter sales tumbled 26% to [...]
Who’s Else Wants MEN
With three days left before bidding closes for Nortel’s metro Ethernet network business, the big question is whether anyone else is going to step up to the plate. In a research report issued today, Jefferies & Co. analyst George Notter suggests other bidders could include Ericsson and Nokia Siemens Networks, which lost out to Ericsson [...]
Nortel’s November
November looks like it could be an interesting month for Nortel. Here’s what’s on tap: - Nov. 13: The auction for the metro Ethernet networking business is scheduled to take place, although there are reports it could be delayed to give potential bidders more time to prepare offers. - Nov. 16: The company’s third-quarter results [...]
Why the Low Price for GSM Business?