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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

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To: Joe13579 who wrote (17401)	7/25/1998 12:03:00 PM
From: Bill	Read Replies (1) of 29386

If there was an offer to buy-out Ancor at $6/share, why didn't they sell? - because they KNOW that they will be shipping switches soon. If there is an offer, management has a fiduciary responsibility to accept it. A public company cannot turn down an offer with that large a premium without suffering a class action law suit and the resignations of investment bankers and accountants. Why isn't Ancor management buying shares? - duh, they can't buy any shares if they KNOW they'll be shipping switches (this is insider info. that opens them up to criminal and civil liability). The opposite is true. The law encourages companies to fulfill publicly stated operating plans by allowing management to purchase shares at will. Read the law. At these prices, I would think that we might see some attempts for a hostile take-over With all due respect, this is a ludicrous statement. There is a 0% chance of a hostile takeover.

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