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Lucent Wins Riverstone Networks with $207M Bid

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MURRAY HILL, N.J., March 22, 2006 -- Lucent Technologies has bought the assets of bankrupt Riverstone Networks Inc. at auction for $207 million in cash. Lucent and Riverstone had originally signed an asset purchase agreement for $170 million on Feb. 7, which will be amended to reflect the auction purchase price. Riverstone also filed for Chapter 11 bankruptcy protection that day. (See "Lucent to Buy Riverstone's Assets for $170M" ) On March 17, the company announced that Ericsson Inc., the US unit of the Swedish telecommunications giant, had made a cash bid of $178 million for the Santa...Read full article

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    Published: March 2006
    auctionbankruptbidCommunicationsEricssonEthernetLucentNews & FeaturesRiverstonerouter

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