Ticker Talk
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.
