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Technology Stocks : Ascend Communications (ASND)

ASND 204.41

-1.0%

Nov 14 9:30 AM EST

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To: VU Q. NGUYEN who wrote (58872)	1/12/1999 9:26:00 PM
From: Tim Luke	of 61433

January 12, 1999 Lucent-Ascend: rumor turns to fact By Vicki Contavespi Indexes (Jan 12, 1999 5:00 PM) DJIA 9475.00 -145.00 -1.51% S&P 500 1239.51 -24.37 -1.93% NASDAQ 2320.82 -63.77 -2.67% EW YORK. 2:37PM EST—Lucent Technologies (LU) and Ascend Communications (ASND) are expected to announce as early as tomorrow that a deal to combine the two companies has been reached. The transaction could be valued at as much as $20 billion, and will be in cash and stock. The rumor about such a deal has been persistent for more than a year, but in reality the talks began only recently. The deal would put Lucent in a stronger position to compete against rival Cisco Systems (CSCO), giving Lucent access to Ascend's technology to help it complete the transition from voice to data transmission. Following yesterday's purchase of Kenan Systems Corp. for $1.45 billion, Lucent will have spent almost $22 billion in two days. In midafternoon trading, Lucent shares were down 4 5/16 to 108 5/8, while Ascend shares were up slightly--11/31 to 76 11/32

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