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Technology Stocks : BAY Ntwks (under House)
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To: jkb who wrote (5759)5/13/1998 12:08:00 AM
From: Kenneth E. Phillipps  Read Replies (1) of 6980
 
From San Jose Mercury Express - 5/12/98

Northern Telecom wants
Bay Net, VC partner says

Bay Networks Inc. reportedly told analysts last week
that it rejected an acquisition offer from Northern
Telecom Ltd. as too low . but would consider higher
bids from NorTel or other suitors. ""It's no longer a
question of whether they (Bay) are for sale, it's now a
disagreement over price,'' said Kevin Fong, a partner
with the venture capital firm Mayfield Fund. Fong told
Bloomberg News he spoke to Bay executives about the
offer. A spokesman for Santa Clara-based Bay declined
to comment. For NorTel, the purchase of a
data-networking company like Bay ''not out of the realm
of possibilities,'' said Peter Nicholson, executive vice
president of corporate strategy for NorTel's parent, BCE
Inc. of Montreal. NorTel, traditionally a telephone
equipment maker, is increasingly competing against
networking giant Cisco Systems as the voice and data
networks converge.
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