Monday, March 20, 2006

Ericsson, Lucent in Bidding War for Riverstone?



Craig Matsumoto writes on Light Reading:

In a move as shocking as a 12th-seed upset, Ericsson AB has made an 11th-hour bid for Riverstone Networks Inc., possibly unraveling the plans for Lucent Technologies Inc. to acquire the struggling company.

Ericsson's bid of $178 million -- filed at yesterday's deadline -- tops the $170 million that Lucent had agreed to pay. The two are set for a showdown in New York on Monday, March 20, at 10:00 a.m., when Riverstone's assets officially get auctioned out of bankruptcy.

More here.

posted by Fergie @ 3/20/2006 10:52:00 AM

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