UPDATE 3-Ciena to pay $769 mln for some Nortel assets -source
* Ciena to buy Nortel optical networking, ethernet unit
* To pay $530 mln cash, $239 mln notes
* Rival bid by Nokia Siemens Networks came close (Updates story with Ciena auction win)
By Anupreeta Das
NEW YORK, Nov 22 (Reuters) - Ciena Corp CIEN.O will buy Nortel Networks Corp's optical networking and carrier ethernet business for $769 million after trumping Nokia Siemens Networks in a three-day auction, sources told Reuters on Sunday.
Last month, the U.S. network equipment maker announced it had made a stalking-horse offer for these assets of Nortel, the Canada-based telecommunications company that filed for bankruptcy in January and has been auctioning off assets.
The stalking-horse bid set a floor price, but Nortel was free to seek higher offers.
Ciena's winning offer consists of $530 million in cash and $239 million in convertible notes, one of the sources said, speaking on condition of anonymity since details of the auction have not been made public.
Ciena initially offered $390 million in cash and 10 million shares of Ciena stock, for a total deal value of $522 million, based on the Friday closing price of Ciena stock. Continuación...