Alcatel and Lucent Approve Merger

The Alcatel and Lucent merger was just approved despite rumors to the contrary. The price — 10.8 billion dollars.

"As we have said from the start, the primary driver of this combination is to create long-term value for shareowners, customers, and employees," said Lucent Technologies Chairman and CEO Patricia Russo. "Today we received approval for the merger from Lucent’s shareowners, and as a result, we are another step closer to creating the first truly global communications solutions provider with the broadest wireless, wireline and services portfolio in the industry."

Alcatel and Lucent expect to complete their merger transaction by the end of calendar year 2006, within the six- to 12-month timeframe originally announced on April 2. The companies have already cleared several key regulatory and antitrust milestones, including antitrust clearance in the United States and the European Union. In addition, the companies have submitted a formal notice to the Committee on Foreign Investment in the United States (CFIUS), seeking U.S. governmental approval of their pending merger.

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