ESPOO (dpa-AFX) - Nokia (NOK) announced Thursday that it has commenced the public buy-out offer to the remaining shareholders of Alcatel-Lucent, bonds convertible into new or exchangeable for existing Alcatel-Lucent shares due on January 30, 2019 or 2019 OCEANEs, and bonds convertible into new or exchangeable for existing Alcatel-Lucent shares due on January 30, 2020 or 2020 OCEANEs to acquire their securities.
The announcement follows the clearance decision of Nokia's public buy-out offer in cash followed by a squeeze-out in cash by the French stock market authority on September 20, 2016.
The company said the Public Buy-Out Offer will be followed by a squeeze-out of the Shares and OCEANEs not tendered into the Public Buy-Out Offer, in accordance with the General Regulation of the AMF.
The financial terms of the offer are 3.50 euros per Alcatel-Lucent Share, 4.51 euros per 2019 OCEANE, and 4.50 euros per 2020 OCEANE.
The Offer is made exclusively in France and in the United States.
The Public Buy-Out Offer will be open for 10 trading days, from September 22 including October 5, and the Squeeze-Out will be implemented on October 6.
As of September 6, 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.
Copyright RTT News/dpa-AFX