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Tuesday, December 22 2009 |
12:12 EDT |
DJIA (DIA)
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- Bankrupt Nortel Networks extends the deadline to make offers for the optical networking unit it's selling, as it looks like nobody is yet topping Ciena's (CIEN -2.1%) stalking-horse bid of $390M and 10M shares (about $515M total).
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This news story has 3 comments:
I believe you meant to say "...and the common stock is now worth very little" instead. The company is being auctioned off to collect "a few" bucks (loonies though). Oh, BTW, I worked for NT in the early seventies and I wonder why the Canadian government did not bail it out. I always thought that Canada is much more "socialistic" than its cousin to the south. Whereas, surprise, we have had so many bailouts of late. Mind boggling. Would you care to comment?
TK
On Nov 10 11:53 AM Graham and Dodd Investor wrote:
> Nortel was once a great company, overreached, and is now worth very
> little.
1. Says "eh"
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10. Lost money on Nortel...