BAY Ntwks (under House) Message Board

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Technology Stocks : BAY Ntwks (under House)

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To: blankmind who wrote (5810)	5/13/1998 6:09:00 PM
From: George A. Roberts	of 6980

In trying to comply with Cramers idea of not posting his stuff on message boards I am posting excerpts..... By Kevin Petrie Staff Reporter 5/13/98 4:42 PM ET "It's not just the arbs who hope Bay Networks (BAY:NYSE) is for sale -- some on Wall Street say it's Bay's best hope. Sell-side analysts and investors are scratching their heads about what Bay executives actually said about takeover talks early Tuesday at a trade show in Las Vegas. Some people who attended the meeting say Bay executives didn't say the company had turned down an offer from Northern Telecom (NT:NYSE). Bloomberg reported early Wednesday that Bay told analysts just that, but that it would consider other offers. Bay's stock reacted to the news, soaring 3 15/16 to 27 15/16 on heavy volume by late afternoon." More from same article "So as an exit strategy Bay reportedly wants to sell itself for 32 to 35 a share, or more than three times trailing revenue, according to one trader. That's still a healthy premium after the stock's rise today. One trader said enough arbs piled into the stock to keep the price aloft for a few days."

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