Ciena and Tellabs delay holder votes on merger
Article Abstract:
Ciena Corp. and Tellabs Inc. delayed stockholder votes on their planned $6.9 billion merger following word that AT&T Corp. would not be purchasing gear from Ciena. Tellabs is now considering all of its alternatives. Ciena has stated that it might see disappointing profit and revenue figures for the fiscal 1998 third quarter. Ciena executives were informed by AT&T that the telecommunications giant would not buy the company's 40-channel multiplexer.
Comment:
Ciena Corp. and Tellabs Inc. delay stockholder votes on planned $6.9 billion merger
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Tellabs asks holders to back Ciena bid, even though results could be hurt
Article Abstract:
Tellabs Inc. is calling on its stockholders to approve a lowered bid for the acquisition of Ciena Corp. Tellabs is making this request of its shareholders in spite of the fact that the reduced offer could hurt the company's 1999 earnings. Tellabs announced that it would make an offer of 0.8 for every common Ciena stock. In June 1998, Tellabs made a $6.9 billion exchange of stock offer. The new bid is valued at approximately $3.98 billion.
Comment:
Tellabs Inc. calls on its stockholders to approve a lowered bid for the acquisition of Ciena Corp.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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