Alcatel to Buy Lucent, Cut 8800 Jobs
Apr 3, 2006 — PARIS and MURRAY HILL, N.J., April 3, 2006 -- Telecom equipment maker Alcatel of France will acquire competitor Lucent Technologies for $13 billion in stock, creating a company with annual worldwide sales of $25 billion and approximately 80,000 employees, the two companies announced yesterday.
Under terms of the deal, which has been approved by the boards of directors of both companies, Alcatel will distribute $13.5 billion in stock to Lucent shareholders. Alcatel shareholders will ultimately...