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Tag Archives: MEN
Auction Delay Buoys Ciena Shares
Ciena shares posted a modest 5.6% rise today as investors reacted positively to the news that Nortel is extending the bidding deadline for its optical and ethernet business to Nov. 20. Ciena has made a “stalking horse” bid of $511-million ($390-million in cash and 10 million shares) for the business. Nortel apparently wants more time [...]
More Time on the Block for MEN
It appears that Nortel may not be getting as much interest in its metro Ethernet networking business. According to Bloomberg, the company could be looking to extend the deadline to sell MEN to give bidders more time to put together a deal. Right now, the only offer for MEN has come from Ciena, which has [...]
Nokia May Bid for MEN
Nokia Siemens may be making a bid for Nortel’s Metro Ethernet network (MEN) business, which would put it in competition with Ciena, which has made a $521-million “stalking horse” bid. Speculation about the bid comes on the heels of Nokia Siemens Rajeev Suri telling Reuters that the company is looking for well-priced and sensible acquisitions. [...]
Behind the Scenes of Nortel’s Bankruptcy Decision
The Ottawa Citizen’s James Bagnell, who covers Nortel as well as any reporter, has a fascinating story looking at what went on behind the scenes before Nortel decided to file for bankruptcy protection last January. The decision to pull the trigger just before a $107-million interest payment had to paid does makes you wonder what [...]
Did Ciena Spill the Beans on Nortel Deal?
Ciena issued a press release today that it is in “advanced discussions” to acquire substantially all of the optical networking and carrier Ethernet assets of Nortel’s Metro Ethernet Networks (MEN) business, adding any agreements would be “subject to a competitive bidding process”. But some alert AAN readers contend Ciena may have prematurely spilled the beans [...]
Who’s Else Wants MEN