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Technology Stocks : PairGain Technologies
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To: bronco2 who wrote (25340)8/11/1998 1:06:00 AM
From: Rainmaker  Read Replies (2) of 36349
 
The 13 G/A filing is extremely interesting. We have a French firm (AXA) owning almost 20% of PAIR. I'll speculate here big time and welcome all comments.

Alcatel (largest French telecom equipment manufacturer) used buyout firm DLJ (gave regular fee plus 1,000 shares for handy-work) to make the "discrete" purchase to gain a major, not majority, say on any sale of the company. AXA was used as an underwriter to bond and insure the deal, as well as hide the owner. They positioned themselves to benefit (financially and strategically) if PAIR is sold AND maintain a significant voice to possibly kill any deal they don't like. I think their interest approaches the ownership percentage held by management. Correct me, but the remainder of the stock is held by funds (40%), trusts (10%) and individual investors (10%). They may have effectively sold the company (by aligning fund managers who are interested in increasing their portfolio value through a sale). Chuckie better make a move or someone will make it for him.
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