Ericsson says Telcordia acquisition will not be closed in 2011

Ericsson announced that the acquisition of Telcordia will
not close before year-end as originally forecasted when the agreement was
announced on June 14, 2011.


With approvals still outstanding from certain government
authorities and as we are in the holiday season, the original estimate of
closing by year-end is likely not probable.


Both companies continue to work diligently with the
government authorities in order to close the acquisition as soon as possible.
Our new estimate is in the beginning of 2012.


On June 14, 2011, Ericsson announced that it had entered
into a merger agreement with Providence Equity Partners and Warburg Pincus to
acquire 100 percent of the shares of Telcordia for $1.15 billion in an all cash
transaction, on a cash and debt-free basis. The transaction includes
approximately 2,600 employees and Telcordia’s customer base.


By Telecomlead.com Team
[email protected]

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