I came across them as still having 388k shares which will split soon. Seems their tech holdings are worth more than the co as awhole.
Anyone follow CS here? See the news to split the co? Sounds like they are trying to parse it up and make it easier to sell it bitwise to would be aquirers.
Friday February 11 11:28 AM ET
Cabletron Spinning Off 4 Divisions
ROCHESTER, N.H. (AP) - Cabletron Systems Inc (NYSE:CS - news)., a maker of network hardware, will split itself into four divisions that it plans to spin off as separate companies within the year.
The Rochester company announced late Thursday it will become a holding company starting March 1.
Cabletron will distribute shares in the new operating companies to shareholders, said spokesman Michael Quinn.
Cabletron employs 4,500 people worldwide, including 2,100 in New Hampshire. Quinn said the company has not yet decided how many people each will employ once the plan takes effect.
Company officials said the restructuring is intended to focus Cabletron's business strengths and increase value for shareholders.
The new subsidiaries will be Riverstone Networks, Enterasys Networks, Global Network Technology Services and Aprisma Management Technologies. Each will have its own president, employees and physical facility.
Aprisma has been a separate division since June 1999, when it was formed as Spectrum, named for the network management software that is its main product.
Riverstone Networks will focus on networking products for the service provider market.
Enterasys will focus on products for e-business infrastructure that will give its customers a competitive advantage.
Global will act as a network consulting company, offering services in design, management and security for business computer networks. |
