Alcatel and Lucent Receive CFIUS Approval to Proceed With Proposed Merger
PARIS and MURRAY HILL, N.J., Nov. 17 /PRNewswire-FirstCall/
-- Alcatel
(Paris: CGEP.PA and NYSE: ALA) and Lucent Technologies (NYSE: LU) today
announced that they have received approval from the Committee on Foreign
Investment in the United States (CFIUS), under provisions of the
Exon-Florio amendment, to proceed with their proposed merger transaction.
Alcatel and Lucent submitted a voluntary notice of the merger to CFIUS in
August 2006. CFIUS prepared a recommendation on the merger transaction to
the President of the United States in the final phase of the approval
process and the President has accepted the CFIUS recommendation that he not
suspend or prohibit the proposed merger transaction, provided that, in time
periods specified, the companies execute a National Security Agreement and
Special Security Agreement to which they have agreed with U.S. government
agencies. Alcatel and Lucent will execute within the specified time periods
the National Security Agreement and Special Security Agreement to which
they have previously agreed with U.S. government agencies.
The companies are moving quickly to finalize the transaction and expect
to complete the merger on November 30, 2006, which is within the
six-to-twelve-month timeframe originally announced April 2, 2006.
About Alcatel
Alcatel provides communications solutions to telecommunication
carriers, Internet service providers and enterprises for delivery of voice,
data and video applications to their customers or employees. Alcatel brings
its leading position in fixed and mobile broadband networks, applications
and services, to help its partners and customers build a user-centric
broadband world. With sales of EURO 13.1 billion and 58,000 employees in
2005, Alcatel operates in more than 130 countries. For more information,
visit Alcatel on the Internet: http://www.alcatel.com
About Lucent
Lucent Technologies designs and delivers the systems, services and
software that drive next-generation communications networks. Backed by Bell
Labs research and development, Lucent uses its strengths in mobility,
optical, software, data and voice networking technologies, as well as
services, to create new revenue-generating opportunities for its customers,
while enabling them to quickly deploy and better manage their networks.
Lucent's customer base includes communications service providers,
governments and enterprises worldwide. For more information on Lucent
Technologies, which has headquarters in Murray Hill, N.J., USA, visit
http://www.lucent.com.
This news release contains statements regarding the proposed
transaction between Lucent and Alcatel, the expected timetable for
completing the transaction, future financial and operating results,
benefits and synergies of the proposed transaction and other statements
about Lucent and Alcatel managements' future expectations, beliefs, goals,
plans or prospects that are based on current expectations, estimates,
forecasts and projections about Lucent and Alcatel and the combined
company, as well as Lucent's, Alcatel's and the combined company's future
performance and the industries in which Lucent and Alcatel operate and the
combined company will operate, in addition to managements' assumptions.
Words such as "expects," "anticipates," "targets," "goals," "projects,"
"intends," "plans," "believes," "seeks," "estimates," variations of such
words and similar expressions are intended to identify such forward-looking
statements which are not statements of historical facts. These
forward-looking statements are not guarantees of future performance and
involve certain risks, uncertainties and assumptions that are difficult to
assess. Therefore, actual outcomes and results may differ materially from
what is expressed or forecasted in such forward-looking statements. These
risks and uncertainties are based upon a number of important factors
including, among others: the ability to consummate the proposed
transaction; difficulties and delays in achieving synergies and cost
savings; potential difficulties in meeting conditions set forth in the
definitive merger agreement entered into by Lucent and Alcatel;
fluctuations in the telecommunications market; the pricing, cost and other
risks inherent in long-term sales agreements; and compliance with
environmental, health and safety laws. For a more complete list and
description of such risks and uncertainties, refer to Lucent's annual
report on Form 10-K for the year ended September 30, 2005 and quarterly
reports on Form 10-Q for the periods ended December 31, 2005, March 31,
2006 and June 30, 2006, and Lucent's proxy statement dated August 7, 2006
and Alcatel's annual report on Form 20-F for the year ended December 31,
2005, as amended as well as other filings by Lucent and Alcatel with the
U.S. Securities and Exchange Commission (the "SEC"). Except as required
under the U.S. federal securities laws and the rules and regulations of the
SEC, each of Lucent and Alcatel disclaims any intention or obligation to
update any forward-looking statements after the distribution of this news
release, whether as a result of new information, future events,
developments, changes in assumptions or otherwise.
SOURCE Lucent Technologies
|
|