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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?
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To: Jeffrey L. Henken who wrote (2285)11/6/1997 10:56:00 PM
From: Linda Kaplan  Read Replies (1) of 3431
 
Headline: Glenayre Technologies (NASDAQ:GEMS) sees merger charge

======================================================================
CHARLOTTE, N.C., Nov 6 (Reuters) - Glenayre Technologies
Inc said on Thursday it will post a fourth quarter charge for
the company's $82 million acquisition of Wireless Access Inc,
which was announced last month.
Wireless Access optionholders received options to purchase
approximately 1.3 million shares of Glenayre Common Stock under
the deal, Glenayre said in a statement.
The charge will result from the write-off of purchased
research and development, Glenayre said.
Following the transaction, former Wireless Access
optionholders will have options to acquire approximately 2% of
Glenayre Common Stock on a fully-diluted basis.
The amount of the charge was not immediately available.

Copyright 1997, Reuters News Service
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