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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.
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Category:Telecommunications
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