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Technology Stocks : Cascade Communications (CSCC)
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To: Philip H. Lee who wrote ()5/29/1997 7:25:00 AM
From: Glenn D. Rudolph   of 3743
 
Ascend,Cascadeshareholders OK plan Reuters Story - May 29, 1997 03:54 FINANCIAL MRG ELC ELI US ASND CSCC V%REUTER P%RTR ALAMEDA, Calif., May 29 (Reuter) - Ascend Communications Inc and Cascade Communications Corp said that shareholders have approved their proposed merger. Completion of the merger is still subject to pending regulatory approval and satisfaction of other customary closing conditions, the companies said. Ascend, a maker of computer networking equipment, agreed in March, to buy Cascade, a rival networking vendor, for about $3.7 billion in stock. The companies said the shareholders approved the proposed merger on Wednesday. Earlier this month, the Justice Department asked for more information on the deal, the second such request.
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