Alcatel, Lucent Closer to Deal, Report Says

Author:: TSC Staff
Publish date:: May 28, 2001 7:19 PM EDT

Alcatel (ALA) is close to finishing its negotiations to buy Lucent (LU) for around $32 billion in stock, according to The Wall Street Journal.

The

Journal

said in its online edition Monday that the two companies could present a plan to their boards Tuesday and announce a deal by Wednesday. The newspaper also said France's Alcatel most likely will offer little or

no premium for Lucent.

A key factor propelling a deal is the expected $4 billion in annual savings a merger would generate, the

Journal

said.