Apple (AAPL) Cleared to Bid for Nortel's 'Treasure Trove' of Patents
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Price: $442.14 +0.18%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 2.7%
EPS Growth %: -18.0%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 2.7%
EPS Growth %: -18.0%
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Apple, Inc. (Nasdaq: AAPL) stock is looking strong Thursday, just about flat on the session amid a 200 point sell-off in the Dow Jones, following reports the company has received clearance to make a bid on Nortel Networks' patents.
The U.S. DoJ announced Apple has won the opportunity to bid on Nortel patents, but the antitrust division will continue to monitor the issue to scan for any further anticompetitve issues.
Unless a competitor bids more at an upcoming June 27th auction, Nortel will sell patents to Google (Nasdaq: GOOG) for $900 million, an agreement announced in January of 2009. Nortel recently delayed the auction a week due to "increased interest."
One analyst believes the assets would be a "treasure trove" for the acquirer.
Nortel, however, hasn't specifically identified any of the bidders other than Google. Others like Microsoft (Nasdaq: MSFT) and Nokia (NYSE: NOK) may also be in the hunt, along with private equity firms.
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The U.S. DoJ announced Apple has won the opportunity to bid on Nortel patents, but the antitrust division will continue to monitor the issue to scan for any further anticompetitve issues.
Unless a competitor bids more at an upcoming June 27th auction, Nortel will sell patents to Google (Nasdaq: GOOG) for $900 million, an agreement announced in January of 2009. Nortel recently delayed the auction a week due to "increased interest."
One analyst believes the assets would be a "treasure trove" for the acquirer.
Nortel, however, hasn't specifically identified any of the bidders other than Google. Others like Microsoft (Nasdaq: MSFT) and Nokia (NYSE: NOK) may also be in the hunt, along with private equity firms.
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