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Technology Stocks : Able Telecom (ABTE)
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To: SirAlexx who wrote (69)12/11/1997 3:16:00 PM
From: Rob L.  Read Replies (1) of 700
 
But why is ABTE going down. ACTC saw the value at 12, but they really could not afford it. It was dilutive becasue they would have to issue too many more shares. Surely another player could come along who could afford ABTE and pay at least the $12 price tag. Did ACTC withdraw the bid or was it rejected. If they did that smacks of insider trading/manipulation. Why would they ever make a bid if they weren't sure how they could pay for it.

ABTE is now trading more or less where it was before the announcement. Earnings due out in a couple of weeks, we'll see what happens,
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