Lucent and Alcatel merger announcement

Lucent and Alcatel announced on Sunday that they plan to merge the two telecommunications companies within the next year. Alcatel is buying out Lucent for $13.4 billion. According to Alcatel's Web site on the merger, the Alcatel/Lucent merger "creates [a] global convergence leader with most comprehensive wireless, wireline and services portfolio in the industry."

The new company will be headquartered in Paris, which will leave a whole in New Jersey, where Lucent is currently located. You can read more about the merger in the article, Alcatel stock up on Lucent agreement, to find out more details about how the merger might affect the telecommunications industry.