Nortel Selects Google’s $900M Offer as Stalking Horse Bid
- April 4, 2011
Nortel Networks has selected a $900M offer from Google as the stalking horse bid in its planned sale of the remaining patent assets assigned to the bankrupct telecom company. The stalking horse bid establishes the opening bid against which other parties may submit higher or better offers. Nortel expects to hold the auction of the portfolio in June 2011.