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Technology Stocks : Riverstone Networks (RSTN)

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To: Adam Nash who started this subject	7/11/2001 8:48:53 AM
From: frankw1900	Read Replies (1) of 290

Cabletron to issue Riverstone shares, cease existence Tuesday July 10, 7:07 pm Eastern Time NEW YORK, July 10 (Reuters) - Telecommunications holding company Cabletron Systems (NYSE:CS - news) on Tuesday said it plans to issue all of its common shares of Riverstone Networks (NasdaqNM:RSTN - news) to its shareholders and then cease to exist as an independent public company. Once the Riverstone stock issuance is completed on August 6, newly-created Enterasys Networks will begin trading on the New York Stock Exchange as part of a transformation of Cabletron, the company said in a statement. Santa Clara, California-based Cabletron also said it will give Riverstone about $120 million in cash and $15 million in equity investments to strengthen its balance sheets. About 1.02 shares of Riverstone and two shares of Enterasys will be issued to shareholders of record as of July 27, Cabletron said. Cabletron currently has four operating subsidiaries -- Aprisma, Enterasys, Riverstone and GNTS. After the share distribution date, only Riverstone and Enterasys will exist.

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