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Technology Stocks : Newbridge Networks

NN 12.73

+1.0%

Nov 18 3:59 PM EST

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To: Tunica Albuginea who wrote (14518)	11/13/1999 12:38:00 PM
From: Hawkeye	Read Replies (2) of 18016

Terry has put the company in play by his inability to deliver. The Board has now indicated through their leak to the press that they intend to represent the other 78% of the shareholders in realizing some value on their diminished investment. If the Board had faith in TM they wouldn't be talking to reporters on this stuff. In my experience what happens in these cases where the Board is taking action is that they give TM the ultimatum that either the company is sold or they resign en masse. An alliance won't do it IMHO because the shareholders are demanding real returns and not some move that pops the stock for a few days. It seems that we have some buyers interested so they should be attempting to make this an auction of sorts. I expect the next move to be a press release from NN indicating that the Board has hired an investment dealer to "explore strategic alternatives" for the company. I also expect we will see an offer for the company by the end of next week and that TM will capitulate under pressure from the Board. FWIW

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