Phone giant to acquire Bay Networks: Northern Telecom set to pay $9.1 billion
Article Abstract:
Some analysts and Nortel investors are wary of the success of the Bay Networks acquisition by Canadian firm Northern Telecom for $9.1 billion. One reason is the culture of Bay which was formed in 1994 by joining Synoptics Communications of Santa Clara, Calif. and Wellfleet Communications of Billerica, Mass. Another is the issue of the accounting method that will have to be used because of Nortel being a Canadian firm. Nortel, 2nd largest North American maker of telephone gear, will improve its position in the increasingly competitive market and will enjoy using Bay's technology that greatly improves bandwidth for all telecommunications.
Comment:
Canadian firm to pay $9.1 billion for US-based Bay Networks
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
A British phone company looks to America
Article Abstract:
Cable and Wireless P.L.C., headquartered in London, might buy MCI's Internet business for $625 million, but only if the MCI-Worldcom merger is approved. If it is approved, Cable and Wireless could then become a merger candidate itself. Its current chief executive sees the company as an attractive firm with global ties, but not quite big enough to keep growing by itself. Mr. Brown should be an expert at such speculation; since joining the firm two years ago it has participated in 19 deals for over $18 billion.
Comment:
London-based firm could end up taking a big chunk of MCI's Internet business off its hands
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Medtronic to acquire Sofamor Danek in stock deal that could top $3 billion. Acxiom will acquire May & Speh in $625 million stock transaction
- Abstracts: Guardian Royal to acquire U.S. insurance unit from ING. Nomura sets acquisition of Thorn. Monsanto agrees to acquire Unilever wheat-seed line
- Abstracts: Scotts agrees to buy part of Monsanto unit in a $300 million deal. American Home, Monsanto to combine in a stock swap valued at $35.08 billion
- Abstracts: Unisys planning to unveil today new clear path mainframe models. IBM unveils array of new products for data storage
- Abstracts: Revlon's forecast warning sends stock plunging. P&G's net jumps 12%, but shares fall on worries about its growth targets