Ciena steps closer to Nortel optical and Carrier Ethernet assets acquisition

NOVEMBER 10, 2009 -- Ciena Corp.says it has received regulatory clearances regarding its proposed acquisition of substantially all of Nortel’s optical networking and Carrier Ethernet assets. The assets are currently part of Nortel’s Metro Ethernet Networks (MEN) unit.

In the United States, Ciena was granted early termination of the antitrust waiting period under the Hart-Scott-Rodino Act. In addition, Ciena also has received from the Canadian Competition Bureau a “no action” letter, terminating the applicable waiting period for the proposed transaction under the Competition Act.

As a result of Nortel’s restructuring process, the proposed transaction remains subject to a competitive bidding process.

The proposed transaction also requires the approval of the United States Bankruptcy Court for the District of Delaware and the Ontario Superior Court of Justice and is subject to additional regional regulatory clearances as well as to customary closing conditions.

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