On Friday, ALU to replace LU

By: Ray Pellecchia: File Under: NYSE

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The business combination of Alcatel and Lucent Technologies will cause a change in the list of Phase III Hybrid Market securities. Effective this Friday, Dec. 1, Lucent Technologies (LU) will come off the list, and it will be replaced by Alcatel-Lucent (ALU). Thought this rated a note, given the importance of the securities.

Will append an info memo as soon as I have it.

Tags: New York Stock Exchange, Hybrid Market, NYSE, NYSE Group, NYX,
trading, stock market, Lucent, LU, Alcatel, ALU, ALA

Comments

I own 1500 shares of Lucent Stock. Now that LU is no longer on the stock market, is the ALU price, which this morning was $13.27, what the Lucent stock is worth?

by Janet Gates on December 1, 2006 3:33 PM

Janet -- This is a bit off our Hybrid Market subject, but I'm the one who brought up the merger, so I'm happy to answer.

Here's an excerpt from a notice we issued on the subject:

"Merger Terms: 0.1952 of an American Depositary Share (each representing one Ordinary Share) of Alcatel [Name to be changed to Alcatel-Lucent] for each share of Lucent Technologies Inc. Common Stock held.

"Cash will be paid in lieu of fractional shares."

Do the math (1,500 x 0.1952) and you will see that you now have 292 shares of ALU, plus cash for the fractional 0.8 share.

Thanks for writing!

by Ray Pellecchia on December 4, 2006 9:02 AM

Exchanges

The Blog About the NYSE Hybrid Market

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On Friday, ALU to replace LU

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