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Technology Stocks : BAY Ntwks (under House)
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To: Paul Lee who wrote (6917)8/6/1998 5:18:00 PM
From: Paul Fine  Read Replies (3) of 6980
 
To All-

Well, I guess this was just a rumor board, since hardly anyone has seen fit to post now that the facts(merger) are in. Sorry to see this forum dry up; it was one of the best in SI. Don't feel too ashamed; the NT board is not posting much of anything either(same is true over in TMF). You would think that shareholders might still have an interest in the state of the actual business of the two companies/combined entity. EVERYBODY couldn't have sold their stake!

The proxy from Bay for the merger came today. The special meeting is 8/28, and the closing date would be 3 business days later if no regulatory issues arise(cleared in the US yesterday). There is some interesting reading in the proxy, including a chronology of the process of exploring the merger options. Apparently, one other company was in the running right down to the wire, but opted not to make a formal bid. The leak about Nortel came on May 12th, the day after a formal written offer came from NT. Gee, an insider leak? One other sidenote: The class action suits protesting the merger have pretty much been settled by Bay including some of this chronology info in the proxy, and making the plaintiff lawyers almost $500,000 richer with our money. That is why most on this board have told those soliciting our support for class action suits to take a hike; the only ones who benefit are the lawyers.

See you all around sometime-

Paul
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