Telecommunications equipment maker Lucent (LU) was up 2.6% in midmorning on published reports that electronics manufacturer Flextronics (FLEX) - Get Report will likely pay between $600 and $900 million for Lucent's manufacturing plants in Oklahoma City and Columbus, Ohio.
Wall Street Journal
reported today that details remain, but the two companies expect to complete a deal within four to six weeks.
The sale of the plants is part of a restructuring designed to return the struggling company to profitability.
Shares of Flextronics was up 2.3%.