Canada Approves Ciena’s Nortel Bid
The telecommunications network specialist Ciena Corporation (CIEN) announced that it has received regulatory approval under the Investment Canada Act for the proposed acquisition of Nortel Network Corp.’s optical networking and carrier ethernet business for a total consideration of $769 million. Ciena said that the regulatory approval validates that the deal is beneficial for Canada.
Ciena will pay $530 million in cash and $239 million in convertible notes for Nortel’s Metro optical … [visit site to read more]
