OT - Lynn - FWIW re Cisco "secondary," what was being referred to was the following sale by Pirelli of a substantial amount of Cisco stock (this was priced after the close on Monday):
"MILAN, Feb 15 (Reuters) - Italy's Pirelli has sold off a 0.4 percent stake in Cisco (NasdaqNM:CSCO - news) of the United States for $1.55 billion under a pre-agreed deal, company source said, confirming Italian newspaper reports.
"Pirelli sold the stake to U.S. institutions including Merrill Lynch, the reports said, under the terms of last year's sale of Pirelli Optical Systems to Cisco for which Pirelli was paid in Cisco shares.
"'As agreed, Pirelli has sold shares for $1.55 billion. The group should also raise another $450 million by selling more Cisco shares,' said the source, who asked not to be identified and did not give any timescale for the sale."
Not a secondary involving the sale of stock by the company itself, but significant nevertheless. Also, note the involvement by Merrill Lynch. I've confirmed with my broker there that this deal was why the ML reports on CSCO were not available. whperk |
