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Technology Stocks : Adaptec (ADPT)

ADPT 17.59

+3.8%

Nov 5 3:59 PM EST

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To: David Nelson who wrote (1399)	3/26/1998 3:44:00 PM
From: Tom M	Read Replies (3) of 5944

David, the bad news is ADPT shelling out more $ it doesn't have for Analog Devices as per this link: biz.yahoo.com They used up all their cash and then some for Symbios, now they'll have to borrow (although with current interest rates an excellent time to go on a buying spree) for another $34M for Analog Devices, + $6M for transitional R&D, then future $20M royalties. Just got filled @ 20 1/8 as I'm thinking if everyone's waiting for $18, that'll make it not happen. I think the quick drop was because it has to be a given their debt rating will get lowered for sure now. The lower it gets, the more attractive it gets for a long term hold IMO. Sounds like they're doing the right things for the long run.

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