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Ciena Buys Growth With Nortel Metro Ethernet Deal
Monday, November 23, 2009Ciena today beat out Nokia Siemens Network to buy bankrupt Nortel’s metro Ethernet business for $769 million, winning the bidding war for the assets that it began in October. A court will still have to approve the deal that will see Ciena, which makes fiber optical equipment, pay $530 million in cash and issue $239 million in debt that will be due in 2017. The transaction will more than double Cie...
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