Ericsson and Lucent are now vying for the assets of bankrupt router vendor Riverstone Networks. Riverstone said it received a $178 million offer from Ericsson, setting off an auction for the company since Riverstone already agreed to sell its assets to Lucent for $170 million in February. Riverstone filed for bankruptcy protection when Lucent made its bid for the company and indicated it would conduct an auction for the sale of its assets. Ericsson was the only one to make an offer for the company by the March 16 deadline. Now the auction will occur on Monday.
For more about Ericsson's bid for Riverstone:
- read this press release