Monday, March 20, 2006

Lucent Wins Auction to Purchase Riverstone for $207 million

Lucent Technologies was declared winner of the auction to acquire Riverstone Networks. Lucent's final bid was $207 million in cash, as well as certain modifications to the asset purchase agreement originally signed by the parties on February 7, 2006.

  • On March 17, Ericsson made a last minute, $178 million offer to acquire Riverstone Networks, a supplier of carrier Ethernet infrastructure solutions for business and residential communications services.

  • On February 7, 2006, Riverstone and Lucent Technologies signed an asset purchase agreement in which the stated purchase price was $170 million, subject to certain potential adjustments.

See also