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Markets / Your Money

Ticker Talk

March 22, 2001|Times Wire Services

The drama deepened Wednesday over the planned initial public offering of Agere Systems, a spinoff from Lucent Technologies. The IPO has been postponed until at least next week, amid the stock market's continuing dive, underwriters said.

Agere had been expected to raise $6 billion to $7 billion by selling 500 million shares at $12 to $14 each. That would make it the second-largest U.S. IPO in history. But analysts now expect the offering price to be trimmed to attract skittish investors and get the deal done.

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