Lucent's shares of trouble
So Morgan Stanley Dean Witter & Co. took Lucent up on those 90 million shares, after all.
The underwriter of Lucent's tortured IPO of its spinoff, Agere, was allowed the option under the agreement. The stock is payment for $519 million of Lucent's short-term debt.
And while Agere shares are some of NYSE's most active, according to Reuters, with more than 40 million trading, the price per share fell below its offering level for the first time yesterday, to $5.38 per share.
Lucent's stock also fell to $8.83 per share, lower than its 52-week low of last week and 85 percent lower than last July's $67 per share.