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Technology Stocks : Newbridge Networks

NN 12.73

+1.0%

Nov 18 3:59 PM EST

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To: Ian@SI who wrote (15365)	12/5/1999 7:48:00 PM
From: Glenn McDougall	Read Replies (1) of 18016

<<Right now, I suspect that Morgan is essentially running an auction. The quicker we hear, the lower the initial offering price. The longer it takes, either the better the price, or if it drags out excessively the greater the probability of no acceptable bids.>> Ian, my 2 cents (Canadian)... I agree that Morgan is showing NNC's wares to a number of companies however the term "auction" implies sell at any price and that I don't expect to occur. Many of the parts are worth quite a lot to various interested parties. My guess is the company will not be sold however parts now not considered essential but worth potentially more on their own in the open market will be sold / spun-off. I think NNC has come to the conclusion it needs more cash to bring on the various technologies it now is developing and would like to see between one and two billion come its way. PF by making the tough decisions he has almost assures we the shareholders of increased eps down the road. Relationships that the company and TM have made in the past now may surface in different forms that could benefit each other. I would suggest this is inside and perhaps outside the industry. Regards Glenn

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