PARIS, and DALLAS-Alcatel and DSC Communications Corp. announced the Antitrust Division of the U.S. Department of Justice has favorably completed its review of the pending agreement for Alcatel to acquire DSC.
The ruling is the last of a line of approvals necessary to complete the proposed transaction. Alcatel and DSC entered into a definitive agreement June 4 under which Alcatel will acquire DSC in a stock-for-stock transaction. Both companies’ boards of directors have unanimously approved the acquisition and DSC shareholders now approved the agreement at an Aug. 27 special meeting.
DSC said it has redeemed all of the preferred stock purchase rights issued to holders of DSC common stock at the redemption price of 1 cent per right, payable in cash.
Now that it has the DOJ’s blessing, the deal is expected to close quickly.
