Ciena to pay $769 mln for some Nortel assets , reported by chartpoppers.com

November 23, 2009

(EMAILWIRE.COM, November 23, 2009 ) Point Roberts, WA - Chartpoppers.com announces an investment report featuring company Ciena Corp (NASDAQ: CIEN)


Ciena Corporation is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video, and data traffic. The Company's optical service delivery and carrier Ethernet service delivery products are used individually, or as part of an integrated solution, in communications networks operated by service providers, cable operators, governments and enterprises around the globe. It is a network specialist targeting the transition of disparate, legacy communications networks to converged, next-generation architectures, able to handle traffic and deliver a mix of high-bandwidth communications services

Recent News on Ciena Corp (NASDAQ: CIEN)

Ciena Corp will buy Nortel Networks Corp's optical networking and carrier ethernet business for $769 million after trumping Nokia Siemens Networks in a three-day auction, sources told Reuters on Sunday.
Last month, the U.S. network equipment maker announced it had made a stalking-horse offer for these assets of Nortel, the Canada-based telecommunications company that filed for bankruptcy in January and has been auctioning off assets.
The stalking-horse bid set a floor price, but Nortel was free to seek higher offers.
Ciena's winning offer consists of $530 million in cash and $239 million in convertible notes, one of the sources said, speaking on condition of anonymity since details of the auction have not been made public.
Ciena initially offered $390 million in cash and 10 million shares of Ciena stock, for a total deal value of $522 million, based on the Friday closing price of Ciena stock.
On Nov. 18, another source familiar with the sale told Reuters that Nokia Siemens Networks and private equity firm One Equity Partners had also jointly bid for the assets.
Representatives for Ciena and Nortel did not return calls seeking comment. Nokia Siemens declined to comment.

To view the Consolidated Investment Analysis on Ciena Corp (NASDAQ: CIEN) Please visit the stock pulse page at http://www.chartpoppers.com/stock%20pulse/

In the report chartpoppers.com covers a recent financial Summary, Analyst Consensus, Technical Analysis, Comparative Analysis and Insider Trading Activity.

The full report is available at http://www.chartpoppers.com
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