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Technology Stocks : 3Com Corporation (COMS)
COMS 0.001600.0%Jan 29 9:30 AM EST
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To: cordob who wrote (41096)3/2/2000 9:55:00 PM
From: Dennis C  Read Replies (3) of 45548
 
Distribution confirmed by 3COM!

Santa Clara, Calif. ? March 2, 2000 ? 3Com Corporation
(Nasdaq: COMS). Following today's successful initial public offering of
stock in Palm, Inc., 3Com reconfirmed its intention to complete a
spin-off of the remaining shares of Palm owned by 3Com in
approximately six months. 3Com owns approximately 532 million shares,
or approximately 95%, of Palm. There are currently approximately 349
million shares of 3Com common stock outstanding. Final approval of
such distribution will be made by 3Com's board of directors based on
the number of shares outstanding of each company at the time of the
distribution. However, if such ratio were to be calculated based on
today's outstanding shares, 3Com shareholders holding 3Com stock as
of the distribution date would be eligible to receive approximately 1.5
shares of Palm for each share of 3Com. The Palm initial public offering
will close on Tuesday, March 7.
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