Nokia To Offer EUR 3.50/shr For Remaining Alcatel-Lucent Shares

(RTTNews) - Nokia (NOK) said that it will offer 3.50 euros per share for remaining Alcatel-Lucent shares and expects to reach 100% ownership by early fourth-quarter.

Nokia announced that it has filed Nokia and Alcatel-Lucent's draft joint offer document with the Autorité des marchés financiers or AMF relating to Nokia's proposed public buy-out offer in cash for the remaining Alcatel-Lucent shares , bonds convertible into new or exchangeable for existing Alcatel-Lucent shares due on January 30, 2019, and bonds convertible into new or exchangeable for existing Alcatel-Lucent shares due on January 30, 2020 it does not already own.

The Public Buy-Out Offer would be automatically followed by a squeeze-out in cash of the Shares and OCEANEs not tendered into the Public Buy-Out Offer , in accordance with the General Regulation of the AMF.

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, following the review and clearance of the Offer by the AMF. The Squeeze-Out would occur on the trading day following the expiration date of the Public Buy-Out Offer, which Nokia expects to occur in early October 2016.