What was the distribution ratio of Avayas common stock to Lucent shareholders?
When was distribution made? Each shareholder of Lucent’s common stock as of the record date, September 20, 2000, received a dividend of one share of Avaya’s common stock for every 12 shares of Lucent held. The distribution was made on September 30, 2000. Please note that fractional shares of Avaya’s common stock were not distributed. Fractional shares held by holders of record were aggregated and sold in the public market by The Bank of New York. The aggregate net cash proceeds of these sales were distributed ratably to those shareholders who would otherwise have received fractional shares. A cash-in-lieu-of the fractional shares check was mailed to those registered Lucent shareholders of record by October 31, 2000. For shareholders of record with Lucent’s stock held in street name, your cash-in-lieu-of the fractional shares was credited to your account by your broker or bank. The cash-in-lieu-of the fractional shares may have been taxable to those shareholders. What is the cost basis
