Alcatel closes Lucent buy
Alcatel-Lucent began operating today as a new company on the completion of Alcatel's purchase of Lucent Technologies Inc.
It's official: Alcatel-Lucent began operating today as a new company on the completion of Alcatel's purchase of Lucent Technologies Inc.
The new telecom giant was first announced in April, when Paris-based Alcatel revealed plans to buy the Murray Hills, N.J., company for $13.5 billion, according to media reports.
The company's stock will be traded on both the Euronext Paris stock exchange and the New York Stock Exchange under the ticker ALU. As a result of the merger, each outstanding share of Lucent common stock has been converted into the right to receive 0.1952 of Alcatel-Lucent American Depository Shares.
Alcatel has issued about 878 million shares, the equivalent to the total number of American Depository Shares that will be issued to the holders of Lucent common stock. Following completion of the acquisition, 2.31 billion shares Alcatel-Lucent are outstanding.
Alcatel-Lucent will design, build and manage complex networks delivering converged services and communications, said Serge Tchuruk chairman of the board. Patricia Russo was named CEO of the new company.
Alcatel-Lucent has 79,000 employees in more than 130 countries. The company had combined revenues of ?18.6 billion ($24.5 billion) in fiscal 2005. Lucent ranks No. 49 on Washington Technology's 2006 Top 100 list of the largest federal prime contractors.