Tag Archives: MEN

Path Cleared for Ciena-MEN Deal

By Mark Evans | Published: December 4, 2009
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 all-cash [...]
Posted in Financials, M&A | Also tagged , | 26 Comments

Ciena Goes Higher for MEN

By Mark Evans | Published: November 22, 2009
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 bidder [...]
Posted in Financials, M&A | Also tagged , , , | 13 Comments

So, Who Won MEN?

By Mark Evans | Published: November 21, 2009
So, who won MEN? We know there was an auction yesterday for Nortel’s metro Ethernet business. And we know there were two bidders: Ciena and, most likely, Nokia Siemens. So, who took home the “prize” – an asset that Nortel viewed as its “crown jewel” when it originally put on the block more than a year ago. Keep [...]
Posted in Financials, M&A | Also tagged , , , | 53 Comments

Nortel Postpones GSM/GSM-R Auction

By Mark Evans | Published: November 20, 2009
Faced with the prospect of holding two auctions on the same day, Nortel has postponed the auction for its GSM/GSM-R business. The company said it is holding discussions with a number of interested parties, and will provide an update next week. In the meantime, Nortel will hold an auction today for its metro Ethernet division. So [...]
Posted in Financials | Also tagged , , , , | 12 Comments

Nokia Siemens to Bid for MEN

By Mark Evans | Published: November 19, 2009
It looks like Ciena will not be the only bidder for Nortel’s metro Ethernet network business, which goes on the auction block tomorrow. According to TheStreet, Nokia Siemens Networks (NSN) will be submitting an offer that could include an investment from private-equity firm One Equity Partners. One Equity’s investment portfolio includes TVGuide, CarlsonWagonlit Travel, Telwares and Emcon [...]
Posted in General | Also tagged , , , | 9 Comments

Will Lower MEN Sales Cause No More Bids?

By Mark Evans | Published: November 18, 2009
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 $295-million [...]
Posted in Financials | Also tagged , , | 40 Comments
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