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Article: Deal with French Firm Could Knock Lucent off Standard & Poor's Stock Index.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- May 25, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Sam Ali, The Star-Ledger, Newark, N.J. Knight Ridder/Tribune Business News
May 25--When German automaker Daimler-Benz AG bought Chrysler Corp. in November 1998, its percentage of U.S. shareholders shrunk from 45 percent to 20 percent in less than a year.
Today, it's down to 17 percent.
The big reason? Standard & Poor's removed the newly merged company from its 500-stock index because DaimlerChrysler no longer fit the profile of an S&P member: It was a German company, after all, and to be a member of the S&P 500, a company must be born in the U.S.A.
Now, with Lucent Technologies Inc. discussing a merger with Paris-based Alcatel ...