A potential union of telecom hardware giants was averted late Tuesday, as Alcatel's play to take over Lucent Technologies Inc. for about $23.5 billion in stock played itself out.
The two companies issued a brief joint statement late Tuesday afternoon, confirming that they had, indeed, conducted merger talks and that those talks "have been terminated" with no deal. They offered no further comment on why the discussions had ended, seemingly as quickly they had begun. The deal would have shifted the balance of power among telecom equipment suppliers.
- Richard Tedesco