Ascend Communications (ASND) Message Board

STOCKTALK

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 : Ascend Communications (ASND)

ASND 207.04

+0.7%

Dec 8 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Techplayer who wrote (60754)	4/12/1999 1:28:00 PM
From: Techplayer	of 61433

Lucent-Ascend deal gets antitrust clearance MURRAY HILL, N.J., April 12 (Reuters) - Lucent Technologies Inc. <LU.N> and Ascend Communications <ASND.O> said on Monday they have received antitrust clearance for their proposed merger from both the U.S. Department of Justice. On April 9, the European Commission approved the merger of the telecommunications networking systems firms. When the deal was first announced in January, Lucent's acquisition of Ascend was valued about $20 billion. Lucent's stock price has rallied since then, giving the deal a higher value. Lucent will convert each share of Ascend into 0.825 pre-split shares of Lucent. Lucent's two-for-one stock split took effect on April 1. The merger is expected to be completed in the quarter ending June 30, pending the approval of Ascend shareowners. Following a ratings downgrade by Soundview Technology, Lucent shares fell $3.75 to $59.875. Ascend's shares fell $3.00 to $95.625. ((New York newsroom, 212 859-1700, fax 212 859-1717, or nyc.equities.newsroom@reuters.com)) REUTERS Copyright REUTER 13:17 04-12-99

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next