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Technology Stocks : PairGain Technologies
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To: stevie ray who wrote (24533)6/22/1998 1:55:00 AM
From: neko  Read Replies (1) of 36349
 
June 22, 1998 : 4:30am AP (Press-not Release) PairGain Technologies (NASDAQ:PAIR) announced today a major acquisition. PairGain is buying Lucent (LU) and WorldCom (WCOM) for a total sum of $120 Billion. This unprecedented move by a company with a market cap of $1 Billion is seen by most analysts as a stroke of genius. "In one quick step they have effectively increased revenue by 1000%," stated Bill Schmuck an analyst for Lynch Merrill of Turlock California. AT&T responded with "We will sue their butts off if they try to pull this off." Shareholders applauded the acquisition which will require them to sell all their first born children to complete the process, however, shares of PairGain are estimated to be worth $1,245.00 each.
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