Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 201.40

+2.3%

3:59 PM EST

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To: Mark Duper who wrote (48919)	6/17/1998 8:26:00 PM
From: stilts	Read Replies (1) of 61433

The stock swap ratio would not change unless the target company were to negotiate a floor, i.e., a minimum that would readjust the exchange ratio if the acquiring co's price descends below a certain amount before the transaction closes. Given NT/Bay's recent experience, I would think that Mory would negotiate hard for such a floor. Holders of the target co's shares can sell their shares anytime before the merger is actually effected, if that's what you mean by having an "option". It may not be wise in Ascend's case since I would think that there would be a good chance a rival bidder might appear on the scene once a competitor makes an offer. I remain skeptical of the news reports re Ericsson. It's possible the aftermarket trading was mostly shorts who didn't want to risk the rumor being true. stilts

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