Ciena May Be Latest Buyer In Nortel Asset Offload

Law360, New York (October 5, 2009, 4:41 PM EDT) -- Communications equipment supplier Ciena Corp. announced Monday it may be close to reaching a deal with Nortel Networks Corp. to acquire substantially all of the bankrupt telecommunications company's optical networking and carrier Ethernet assets.

Nortel and Ciena released separate but nearly identical news releases Monday announcing that negotiations between the two sides had reached the “advanced” stage.

The outcome of the discussions remains “uncertain and subject to negotiation of definitive agreements,” the releases said. “Any agreements would be subject to a competitive bidding process under the...
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