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Bulletin: Ericsson BBB-/Positive/A-3 Ratings And Outlook Not Affected By Redback Acquisition Dec 06
Standard & Poors, Dec 2006
Abstract
NEW YORK (Standard & Poor's) Dec. 20, 2006--Communications equipment manufacturer L.M. Ericsson Telefonaktiebolaget (BBB-/Positive/A-3) announced the planned acquisition of Redback Networks Inc. (unrated) for approximately $1.9 billion (net of cash) in a tender for all outstanding shares, representing an 18% premium to Redback's shareholders. Redback's board has approved the transaction, and completion is expected by the end of February 2007, pending regulatory and shareholder approval. Standard & Poor's Ratings Services said that the transaction would have no effect on its ratings for Ericsson. Redback manufactures routers and related networking equipment to manage voice, data, and video communications. The acquisition will supplement Ericsson's access and transport products, enabling the company to provide end-to-end IP (Internet protocol) wireless and landline communications systems....
Companies mentioned in this report are: Ericsson (Telefonaktiebolaget L.M.)
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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