je.st
news
Tellabs sold for USD 891 mln to Marlin Equity Partners
2013-10-21 14:53:00| Telecompaper Headlines
(Telecompaper) Marlin Equity Partners has agreed to acquire networking equipment maker Tellabs for USD 891 million. The price of USD 2.45 per share is a 4.3 percent premium on Tellabs' share price on 18 October, the last trading before the announcement. Tellabs' board approved the deal, and Michael J. Birck, Tellabs's co-founder and second-largest stockholder, said he supports the transaction. The takeover is expected to close before the end of the year. The deal follows a strategic review of the loss-making company's options, with more than 30 potential buyers contacted as part of the sale process. Tellabs said the takeover will give it the resources to invest in new technologies.
Tags: partners
sold
usd
equity
Category:Telecommunications