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Tag Archives: ciena
Thanks for Coming Out, Pavi
With the sale of Nortel’s optical networking and carrier Ethernet business to Ciena completed on Friday, Pavi Binning has decided the time is right to resign as Nortel’s chief restructuring officer and chief financial officer. To be honest, there’s really not much left to restructure given the only major assets left are Nortel’s stake in [...]
The End is Near
Now that the Canadian government has rubber-stamped Ciena’s $769-million purchase of Nortel’s Ethernet and optical business, and the carrier VoIP unit is now in play, it doesn’t leave much left on the lawn for the Nortel Garage Sale. According to a Nortel spokeman (via GigaOm), the remaining assets include the joint venture with LG (Nortel-LG) [...]
Path Cleared for Ciena-MEN Deal
Nokia Siemens Network’s efforts to make a higher bid for Nortel’s optical and Ethernet business were rejected by Delaware and Ontario courts, paving the way for Ciena to complete its $769-million purchase. NSN wanted to make a $810-million bid, claiming that the $239-million of convertible debt offered by Ciena was too risky compared with its [...]
Ciena Taking Home a MEN
Ciena has apparently won the auction for Nortel’s metro Ethernet network networking business with a $769-million offer, following a three-day auction in New York against Nokia Siemens. Reuters reports that Ciena offered $530 million in cash and $239 million in convertible notes, nearly 50% higher than its original $510-million “stalking horse” bid. More: According to [...]
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 [...]
Bo Gowan is Alive, Well and Blogging