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Agere receives NYSE delisting warning
In CHICAGO story, headlined "Agere receives NYSE delisting warning," in last paragraph, read Lucent ...may perform a reverse stock split...instead of Lucent ...will perform a reverse stock split ... (Corrects to show that the reverse stock split remains an option the company may take following a shareholder vote))

A corrected version follows:

CHICAGO, Nov 5 (Reuters) - Agere Systems Inc. (NYSE:AGRa - News), a maker of semiconductors, said on Tuesday it has received a letter warning its stock may be delisted by the New York Stock Exchange because its share price dipped below minimum required levels.

The Allentown, Pennsylvania-based company, a former unit of telecommunications equipment maker Lucent Technologies Inc. (NYSE:LU - News), said it violated the requirement that a stock's average closing price be at least $1.00 over 30 consecutive trading days.

Agere's stock closed Monday at $1.23 a share. It fell as low as 50 cents on Oct. 7.

The company said it is evaluating alternatives with regard to complying with the NYSE requirement and has six months to meet the continued listing standard.

Agere spokeswoman Vibha Agrawal said the primary options being considered are a reverse stock split or waiting to see if the stock recovers. At the end of the six month grace period, the average stock price is weighed against the previous 30 consecutive trading days, she said.

Agere was spun off from Lucent in June. Lucent, which recently violated the same minimum price standard, has said it may perform a reverse stock split next year if its shareholders approve.