Lucent Technologies and Ascend Communications Receive Antitrust Clearance for Proposed Merger

Strategic Insights -

Lucent Technologies and Ascend Communications have received antitrust clearance from the U.S. Department of Justice and the European Commission for their proposed merger. The deal, announced on January 13, is expected to be completed in the quarter ending June 30, pending approval from Ascend shareholders. The merger combines the strengths of two leading technology companies, with Lucent's expertise in designing and delivering communications systems and Ascend's innovative wide area networking solutions.

Key Takeaways:

  • The proposed merger between Lucent Technologies and Ascend Communications has received antitrust clearance from the U.S. Department of Justice and the European Commission.
  • The merger was announced on January 13 and is expected to be completed in the quarter ending June 30, pending approval from Ascend shareholders.
  • Lucent Technologies designs, builds, and delivers a wide range of public and private networks, communications systems, software, data networking systems, business telephone systems, and microelectronic components.
  • Ascend Communications develops, manufactures, sells, and services wide area networking solutions for telecommunications carriers, Internet service providers, and corporate customers worldwide.
  • The combined entity will leverage Lucent's research and development capabilities, led by Bell Laboratories.
  • Investors can access additional information on Ascend's Web site, including financial data and investor relations information.

Statistics:

  • The proposed merger is expected to be completed in the quarter ending June 30, 200X.
  • Lucent Technologies is headquartered in Murray Hill, N.J., USA, with operations worldwide.
  • Ascend Communications has operations in the United States, Europe, and Asia, with a focus on wide area networking solutions.
  • The U.S. Department of Justice and the European Commission have granted antitrust clearance for the merger.
  • The proposed merger is subject to approval from Ascend shareholders, with an expected completion date of June 30, 200X.

Sources:

  • Lucent Technologies (NYSE: LU)
  • Ascend Communications (Nasdaq: ASND)
  • U.S. Department of Justice (DOJ)
  • European Commission
  • PRNewswire press release (April 12)