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Short Take: Ciena: Foul play doomed Tellabs merger

Telecommunications equipment maker Ciena contends in a SEC filing that a rival's questionable activity drove down the company's stock value, dooming its planned merger with Tellabs. Tellabs was set to acquire Ciena in a $6.9 billion stock deal but the price was renegotiated to $4.7 billion as Ciena's stock fell and finally canceled. Ciena suspects foul play because two prospective product deals were canceled shortly before the merger was finalized.

Telecommunications equipment maker Ciena contends in a SEC filing that a rival's questionable activity drove down the company's stock value, dooming its planned merger with Tellabs. Tellabs was set to acquire Ciena in a $6.9 billion stock deal but the price was renegotiated to $4.7 billion as Ciena's stock fell and finally canceled. Ciena suspects foul play because two prospective product deals were canceled shortly before the merger was finalized.