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Technology Stocks : PairGain Technologies
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To: Patricia who wrote (36007)2/23/2000 10:31:00 AM
From: BWAC   of 36349
 
"Under the terms of the agreement, each share of PairGain's common stock will be converted into 0.43 share of ADC common stock with a fixed exchange ratio. Based on the closing share price of $46.81 for ADC's stock on February 22, 2000, the transaction is valued at approximately $1.6 billion. The proposed transaction is expected to be completed during ADC's third fiscal quarter, which ends July 31, 2000, "

I take the 'fixed ratio' to mean fixed at .43 ADCT to 1 PAIR.

PAIR is trading in lock step with ADCT's falling price. Deduct about $1 for the tiem value of the deal.
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