Nokia Corp (ADR) (NYSE:NOK) has been notified by the French Stock Market authority (AMF) about a new expiration date of its buyout offer, for the remaining securities of Alcatel-Lucent. As per the new schedule, the public buyout offer would end on October 31, 2016 and would be followed by a squeeze-out, to be implemented on November 2, 2016. It should be noted here that the decision by AMF to clear the buyout offer has been challenged in court and is awaiting final judgment.
The lawsuit had originally been filed on September 30, 2016, at a court in Paris, but the court is not expected to issue its decision, until the 1Q2017. NOK has already stated that the lawsuit is without merit, since the offer had been made in accordance with the laws and regulations of the region. However, the company seems to be determined to up its bid, in case the court issues a decision against them. This is evident in the fact that Nokia has deposited a sum equal to the difference between their offer and the price being demanded through the lawsuit, in a blocked account.
Recently, two key industry analyst reports awarded Nokia the title of “Leading Small Cells Technology Company”. The two reports include “2016 Magic Quadrant For Small Cell Equipment”, by Gartner Inc. and a survey report of 21 operators, published by IHS. The report from Gartner evaluated a total of 16 vendors, on basis of strategies, innovation and other factors. Nokia was awarded the top-spot, on the completeness of its vision.
The report from IHS included the largest operators, based on revenue, with 95% of the operators naming NOK as the top small cell manufacturer. Moreover, all of the survey participants were most familiar with the company. The report also hinted at the possibility of additional business for Nokia, in the near future, as many of the participants claimed that they were considering Nokia for additional equipment to be added to their networks, by July 2017.
Nokia Corp (ADR) (NYSE:NOK) closed at a share price of $4.97, at the end of the October 25 trading session, the same as the session before, on a trade volume of 9.11 million.