Free Newsletter
Avaya-Nortel deal meets more Canadian approval
The Avaya-Nortel deal has been getting approval across the board. After the U.S. and the EU, it's Canada's turn again. Canada's Minister of Industry Tony Clement approved Avaya's acquisition of Nortel Networks enterprise solutions operations on Friday.
The $915 million acquisition should be completed by the end of the month and some estimates had wagered the deal would be closed by the end of today.
A few weeks ago, Avaya's proposed purchase of Nortel's enterprise solutions unit got approval from the European Commission. Earlier in November, Avaya secured approval for the deal under the Hart-Scott-Rodino Act as well as from the Canadian Competition Bureau. Even before Avaya got these approvals, the acquisition met a series of approvals from a U.S. Bankruptcy court judge and a Canadian court judge.
The deal was really about the customers and convincing them to migrate their phone systems to Avaya gear over time, Zeus Kerravala, an analyst with the Yankee group told Network World back in June.
For more:
- read this WSJ article
- read more from Kerravala in this Network World story
Related articles
Avaya-Nortel deal clears Canadian hurdles
Nortel upgrades CS2000
Avaya-Nortel deal hits Canadian snag
Avaya fires back at Verizon over Nortel bid
Verizon seeks to block Avaya's Nortel bid
Comments
Posted by Lincoln | December 7, 2009 - 6:38pm
Headline: "Avaya-Nortel deal meets more Canadian approval" is misleading.
The deal meets Tony Clement's approval, the Harper Tories' approval, but certainly not "Canadian" approval. The Harper government bailed out GM and Chrysler but did nothing for Nortel and Forestry.
Remember that the Harper government is a minority government and by no means can anyone say that the received a majority of the popular vote.
SHARE
WITH:
Comments (1) | Post a comment