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Technology Stocks : Ascend Communications (ASND)

ASND 212.55

+1.2%

Nov 28 12:59 PM EST

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To: sepku who wrote (27500)	12/11/1997 3:42:00 AM
From: HammerHead	Read Replies (1) of 61433

excerpt from www.thestreet.com Top Stories: Lucent Purchases Prominet and Gains Ground in Battle Against Networkers By Kevin Petrie Staff Reporter 12/10/97 9:12 PM ET The deal may diminish the chance that Lucent will buy beleaguered data networker Ascend (ASND:Nasdaq), a possibility that has run through Wall Street's rumor mill for some time. As TheStreet.com has reported, some investors find an acquisition of Ascend rather unpalatable, given the potential product overlap and Lucent's restriction from pooling-of-interest transactions. The restriction, stemming from Lucent's 1996 spinoff from AT&T (T:NYSE), forces Lucent to use purchase accounting for now, which in a big acquisition would cause it to book millions of dollars in goodwill. The goodwill then would have to be written off over time against earnings. The product overlap would involve Lucent's first data acquisition -- the $650 million stock purchase in October of Livingston, which produces "remote access" products quite similar to Ascend's.

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