Speculating in Takeover Targets Message Board

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Strategies & Market Trends : Speculating in Takeover Targets

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Feb 6 9:30 AM EST

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To: richardred who started this subject	11/12/2003 12:24:28 PM
From: richardred	of 7265

2 small deals-Latitude Communications (LATD: news, chart, profile) shot up 28 percent after Cisco Systems (CSCO: news, chart, profile) announced a deal to acquire the provider of enterprises conferencing products. The deal carries a total value of $80 million, with Cisco paying $3.95 per cash for Latitude's outstanding common stock. Cisco said it would take an unspecified charge for purchased in-process research and development expenses. The parties expect the deal to close in the second quarter of Cisco's 2004 fiscal year. Cisco edged up 0.9 percent. Pivotal Corp. (PVTL: news, chart, profile) powered up 14 percent after Onyx Software (ONXS: news, chart, profile) said it would pay $2.25 per share for the software company. The price in the stock-for-stock transaction represents a premium of 49 cents, or 28 percent, over Pivotal's closing price of $1.76 per share on Tuesday. The price outbids the rival offer of $1.78 per share made Oct. 8 by privately held Talisma Corp. in a cash transaction financed by Oak Investment Partners. Shares of Onyx Software fell 6.6 percent.

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