Alcatel to Acquire Lucent in $13.4B Deal
An AP newswire article, via MSNBC, reports that:
Alcatel SA and Lucent Technologies Inc. announced Sunday that the French telecom equipment maker would acquire its U.S. rival in a $13.4 billion stock swap that would form a major new global player. About 8,800 jobs will be cut.More here.
The combined company, to be based in Paris, will have annual sales of $25 billion — close to the 2005 revenue posted by the world’s largest network provider, Cisco Systems Inc. The new company expects to generate $1.7 billion of savings within three years, the companies said.
posted by Fergie @ 4/02/2006 11:54:00 AM
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