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#493052 07/30/09 02:35 AM
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Looks like the deal is not quite done yet; Siemens and Gores Group have formed another company that aims to get back in the deal:
Reuters story

Some Key points from the article:
Quote
A joint venture of private equity firm Gores Group and Germany's Siemens AG (SIEGn.DE) said on Wednesday it is pushing to submit a bid to acquire the enterprise solutions business of bankrupt Canadian telecom equipment maker Nortel Networks (NRTLQ.PK)
Quote
The venture is called Enterprise Networks Holdings
Quote
ENH has filed a limited objection to the proposed bidding procedures
Quote
It said the procedures have several provisions that not only give Avaya an unfair advantage
Quote
Any competing bids will have to exceed Avaya's offer.
Quote
In a separate court filing, Nortel creditor MatlinPatterson has also made a limited objection to the bidding process for Nortel's enterprise unit.
Steve

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#493053 07/30/09 05:29 AM
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RIP Moderator-Mitel, Panasonic
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It said the procedures have several provisions that not only give Avaya an unfair advantage
--------------------------------------------------------------------------------
Any competing bids will have to exceed Avaya's offer.
--------------------------------------------------------------------------------
If that is the main unfair advantage, shades of "Atlas Shrugged". frown John C.


When I was young, I was Liberal. As I aged and wised up, I became Conservative. Now that I'm old, I have settled on Curmudgeon.
#493054 07/30/09 12:29 PM
Joined: May 2002
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What ever the outcome good bye Nortel. What a shame.

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