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Developments
Notable Transactions
Lucent Technologies / Alcatel
Merger of Equals Cross-Border
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 Merger
of two leading telecom equipment suppliers
- Deal driven by expected cost cutting synergies
- Expect to cut 10% of work force (8,000 employees)
- NPV of cost synergies is 10 / $12 billion
Nearly equal to Lucent's market cap
- Lucent projects disappointing 2006 revenues
- Removal of either CEO or Chairman subject to
supermajority
 Deal
terms
- LU shareholders to receive 0.1952 Alcatel ADS
- Ownership: 60% ALA - 40% LU
- Will trade on NYSE as Alcatel ADSs
- Six LU directors
- Six ALA directors
- Two independent European directors
- Alcatel CEO to be Chairman (Serge Tchuruk)
- Lucent CEO to be CEO (Patricia Russo)
- Most senior manager slots go to Alcatel
- Paris headquarters
- Company name to be determined
Advisors
- Alcatel: Goldman / Skadden
- Lucent: JP Morgan / Morgan Stanley / Wachtell
Announced
4.02.06
National
security issues (Exon-Florio)
- Lucent to create a separate subsidiary to address
issues over Bell Labs
- Thales (France) will buy Alcatel's satellite and
security businesses for $2B
- Addresses French national security concerns
Agreements
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Scientific-Atlanta / Cisco Systems
Cash Merger
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Cisco
buys leading video set-top box company
- A play on convergence of video, voice and data
Advisors
- CSCO: Fenwick & West
- SFA: Evercore / CSFB / Lehman / Skadden Arps
Announced
11.18.05
Closed
2.24.06
Proxy
solicitation
SEC_CODE_REF_0090001192884
Agreements
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PEC Solutions / Nortel Networks Two-Step Cash Merger
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Canadian
telecom supplier acquires
US government IT services firm Deal
terms
- Two-step cash merger
- US$15.50 per share
- US$ 448 million total
Advisors
- Nortel: Crowell & Moring
- PEC Solutions: JP Morgan / DLA Piper Rudnick
Announced
4.26.05
Closed
6.01.05
Agreements
Schedule
TO Filing
 Amendment #1
5.16.05
Amendment #2
5.19.05
Amendment #3
5.19.05
- Re: PEC internal projections
Schedule
14D-9 Filings
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Related Topics
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