Deal's failure puts a chill in the plans of Lucent

Article Abstract:

Industry experts say that financially-troubled Lucent Technologies Inc. needs to divest itself of its fiber optics business to appease its creditors. In the wake of the company's failed merger with Alcatel of France, however, the price of the fiber-optics unit is falling (estimates of its worth are now around four billion dollars) and the company is cash-strapped. Lucent wants to sell the unit by Sep. 2001 to be able to finance its planned spinoff of chip-maker Agere Systems. Two companies, Japan's Furukawa Electric and Italy's Pirelli, are still bidding for the fiber-optics unit.

Asset sales & divestitures, Use of Funds, Company acquisition/merger, Company financing

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Lucent is allowed changes in $4 million of bank loans; write-down may enable debt repayments

Article Abstract:

An agreement has been reached between Lucent Technologies and its lenders to alter terms of its bank loans. Approval was received from all of over 40 banks involved. The modifications were necessitated by the company's need to take a charge of up to $9 billion in the current quarter as it restructures. In other news, the company plans to go ahead with the spinoff of Agere Systems, slated for March, 2002.

Semiconductors and related devices, Semiconductor Devices, Semiconductor and Related Device Manufacturing, Semiconductor industry, Agere Systems Inc.

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