Lucent Holders Approve Merger With Alcatel
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Lucent Technologies Inc. (LU) shareholders voted to approve a $10.9 billion merger with Alcatel S.A. (ALA) in a special meeting held Thursday.
The approval came minutes after Alcatel shareholders, convening at another meeting in Paris, also voted to approve the deal.
With the shareholder approvals now in hand, the companies will need to finish obtaining regulatory approvals. The merger is expected to close before the end of the year. Merging is expected to help the companies save $1.7 billion within three years.
