A group that includes Corning Inc. has received antitrust clearance from the Federal Trade Commission for its proposed acquisition of Lucent Technologies Inc.’s optical fiber solutions operations.
The agency announced Wednesday that it granted the companies early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act.
Lucent confirmed an agreement to sell its optical fiber solutions operations to Furukawa Electric Co. and Corning for a total of $2.75 billion. Lucent said it sold the majority of the operations to Furukawa.
Corning will pay $225 million cash for Lucent’s interests in two Chinese ventures: Lucent Technologies Shanghai Fiber Optic Co. and Lucent Technologies Beijing Fiber Optic Cable Co.
Lucent stock rose 18 cents Wednesday to close at $5.92, and Corning gained 12 cents to $10.12.