Lucent, Alcatel shareholders approve merger

Shareholders of both Alcatel and Lucent Technologies voted to approve the proposed merger of the two companies today.

In a shareholder meeting today, votes representing 51.97% of Lucent’s common stock were cast in favor of the merger, barely meeting the requirement of a majority.

At the end of that meeting, Lucent Chief Executive Officer Pat Russo--who will become CEO of the combined company, Alcatel Lucent--announced that she had just received word that Alcatel shareholders, who met this morning in Paris, had approved the merger as well.

Concerns surrounding the merger have swelled in recent weeks, with more doubt focused on whether Alcatel shareholders in particular would approve the merger. However, most analysts expected shareholders of both companies to greenlight the deal.

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