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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (28801)	6/4/1998 3:42:00 AM
From: PaperChase	Read Replies (1) of 132070

MB. Telecom equipment sector is going insane with deals. Alcatel just announced they are buying broken down DSC Communications (Digi). Check out this wording in the press release: "This represents a premium of approximately 80 % over DSC's closing price per share on June 3, 1998 and 8 % over DSC 's twelve months high of $32.75." I will remind all that DSC is a non-growth company that lost $30 million last quarter. What would possess Alcatel management to pay this much and why would they make the irresponsible statement that the acquisition of a money losing company will not hurt earnings? Strange bull market logic.

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