SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : MRV Communications (MRVC) opinions?
MRVC 9.975-0.1%Aug 15 5:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: opalapril who wrote (22671)8/1/2000 9:56:31 PM
From: Bridge Player  Read Replies (1) of 42804
 
<< FWIW: COMS spun-off PALM in Feb 2000, exactly 24 mos. after acquiring it in the USRX purchase. >>

I attempted to verify your statements by posting a question over on the COMS board. The following post was one of the responses, confirmed by several others. I believe that this information is accurate.

<< I've been in COMS on and off since late 1996 prior to the USRX acquisition. The deal was announced 2/27/97, and it closed 6/12/97. USRX had previously bought out PALM after the ill-fated Apple Newton died, and PALM was still struggling to find its feet when 3Com took over USRX. To
their credit, 3Com saw the promise in PALM, and nurtured the fledgling cuckoo until it got too big for the nest.>>

The following was also posted on the COMS board:

<< The tax basis in your 3Com common stock immediately prior to the spin-off will be allocated between your PALM common stock and 3Com common stock in proportion to their relative fair market value on the July 27, 2000 distribution date."

In other words, the PALM spin-off did not occur until 7/27/2000. This is easily confirmed by the price drop in COMS stock that occurred the following day.

Sorry to be pedantic, but I really hate it when people post factually incorrect information, particularly when they use the word exactly .

BP
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News