The Run-Up to Nortel's Enterprise SaleThe Run-Up to Nortel's Enterprise Sale

Nortel received proposals from three stalking horse bidders for Enterprise Solutions.

Now that the bidding war seems to be on for Nortel Enterprise, it's worth looking at some interesting facts that can be culled from the initial court papers filed the day that Avaya announced its stalking horse bid. Here's a couple interesting things we learn there:* "In late 2008, Nortel began to explore the potential sale of the Enterprise Solutions Business. In connection with these efforts, Nortel approached eight parties, including one financial investor and seven strategic buyers. Nortel received six expressions of interest, and three of the interested parties participated in management presentations and due diligence sessions, resulting in the receipt of two non-binding proposals."

* After the bankruptcy process short-circuited these sale efforts, Nortel put Enterprise Solutions on the block again, and eventually received proposals from three stalking horse bidders.Nortel received proposals from three stalking horse bidders for Enterprise Solutions.