Cabletron eyed as takeover target - Business Week
NEW YORK, July 8 (Reuters) - Cabletron Systems (NYSE:CS - news), a provider of networking products, is being eyed as a possible takeover by a global telecom giant, several investment professionals told Business Week.
''There are several potential buyers'' looking closely at Cabletron, Jim Marquez of Bayou Securities said in the Inside Wall Street column of the magazine's July 19 issue.
Marquez, who said he is accumulating Cabletron shares, said Italy's Alcatel , Germany's Siemens (quote from Yahoo! UK & Ireland: SIEG.F) and Canada's Nortel (Toronto:NT.TO - news) are all looking at Cabletron, Business Week reported.
The company is worth at least $20 a share, the magazine quoted SG Cowen analyst Chris Stix as saying.
Cabletron declined to comment to Business Week on the merger talk.
Cabletron shares are up about 50 percent so far this year, closing at 13, up 1, in trade Thursday on the New York Stock Exchange.
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