Nortel, Dayton, Pilgrim’s, ION, WL Homes: Bankruptcy

Ericsson AB, the world’s largest maker of wireless phone networks, bid $1.13 billion and won the auction for the Nortel Networks Corp. business that develops and supplies equipment to mobile-phone service providers.

The opening bid of $650 million came from Nokia Siemens Networks BV. The sale must be approved by the bankruptcy courts in the U.S. and Canada. The operations being sold are known as the CDMA and LTE Access business.