Nortel Networks 8-K 2010
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 25, 2010
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code 905-863-7000
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Nortel Networks Corporation (NNC) is filing this amendment to its Current Report on Form 8-K originally filed by NNC on March 22, 2010 (Original Form 8-K) solely to amend the Original Form 8-K to include under Item 2.01 the disclosure relating to the completed sale of substantially all of the assets of Nortels Optical Networks and Carrier Ethernet businesses to Ciena Corporation, which disclosure was included under Item 8.01 in the Original Form 8-K, and to include certain sale agreements and related amendments as exhibits. No other changes have been made to the Original Form 8-K.
On March 19, 2010, the registrant announced that it, its principal operating subsidiary Nortel Networks Limited (NNL), and certain of its other subsidiaries including Nortel Networks Inc. and Nortel Networks UK Limited have completed the sale of substantially all of the assets of Nortels Optical Networking and Carrier Ethernet businesses to Ciena Corporation (Ciena). Ciena has elected, as permitted by the terms of the sale agreement, to replace the US$239 million principal amount of convertible notes with cash consideration of US$244 million, and thus pay an all cash purchase price of approximately US$774 million, subject to a working capital adjustment currently estimated as a downward adjustment of approximately US$62 million. Under the terms of the sale, Nortel will provide certain transitional services to Ciena.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: March 25, 2010