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Lucent Buying Ortel Corp. For $ 2.95 Billion - Acquisition Could Lead To Spinoff Of Microelectronics Unit.
Byline: By, Investor's Daily
Lucent Technologies Inc., the world's No. 1 telecommunications equipment maker, shored up its optical networking business Monday by agreeing to buy high-flying Ortel Corp. for $ 2.95 billion in stock. Analysts said the deal could help Lucent, the most widely held U.S. stock, fatten up its microelectronics unit for a possible spinoff. Ortel and other optical networking companies have been among the hottest issues on Wall Street. Telecommunications companies are snapping up their laser technology to accelerate transmissions while holding down costs. Lucent's Microelectronics Group said that buying Ortel, an Alhambra, Calif., maker of lasers …
