Nokia today announced that it has filed a draft offer document relating to a public buy-out offer in cash for the remaining Alcatel-Lucent shares it does not already own.
Rajeev Suri, President and CEO of Nokia, commented: “Nokia and Alcatel-Lucent have been operating as one company since January, following the completion of our public exchange offer, and we have made exceptional progress on the integration since then. This public buy-out offer and squeeze-out will give Nokia 100% ownership of Alcatel-Lucent in early Q4 under the indicative timeline, enabling us to operate even more efficiently, and ensuring we deliver outstanding service to our customers and further value creation opportunity to our current and future shareholders.”
As of today, Nokia holds 95.32% of the share capital and 95.25% of the voting rights of Alcatel-Lucent, corresponding to 95.15% of the Alcatel-Lucent share capital on a fully-diluted basis. Having crossed the 95% ownership thresholds in Alcatel-Lucent and in accordance with French takeover laws and regulations, Nokia has filed the Offer with the AMF in order to acquire 100% of Alcatel-Lucent and complete the combination of the two companies.
Nokia expects the Public Buy-Out Offer to open in the second half of September 2016.
The timetable for the Offer is subject to approval by the AMF.
The participating members of Alcatel-Lucent’s Board of Directors have unanimously determined that Nokia’s proposed Offer is in the best interests of Alcatel-Lucent, its employees and stakeholders.