Hi Lynn,
This was reported on a rumor news site:
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AUGUST 12, 1998 #2 3:25pm
Rumors circulating that XEROX CORP (XRX) to takeover POLAROID CORP (PRD) $36 -(Volume Today: 498,000)(30-Day Avg. Volume: 237,000)
FORE SYS INC (FORE) rumored to be looking at NETWORK EQUIP TECH (NWK) $ 14 3/4 . Price is rumored to be in the low $20's.
HARTFORD FINANCIAL SVCS (HIG) $51 5/16 - is rumored as a takeover target of AMERICAN EXPRESS CO (AXP)
AUGUST 12, 1998 2:50pm
Rumors persist and do not seem to want to die dealing with an acquisition of 3COM CORP (COMS) currently $28 7/8 . We have reported previously on June 17, 1998 that for quite some time 3 COM Corp has been mentioned as a takeover target the story at that time was ERICSSON L M TEL CO (ERICY) as the possible suitor.
A couple of weeks later we reported a similar rumor on July 5th in the BUZZ and BITS section of the site that many traders were reportedly whispering rumors that 3Com Corp. (COMS), could possibly be in talks with communications giant Siemens.
A couple of days ago Barrons reported that David Bernstein, managing director of investment bank Westhill Group said, Adaptec Inc., which makes adapter cards used to link personal computers to printers and other devices, could be bought by Intel Corp. or 3Com Corp.
Today we are reporting another rumor circulating
INTEL CORP (INTC) is rumored to be buying 3COM CORP (COMS) $28 7/8 -(Volume Today: 7,990,000)(30-Day Avg. Volume: 7,080,000)
RAYCHEM CORP (RYC) $ 31 1/2 - is rumored to be a target of SUNDSTRAND CORP (SNS) (Todays Volume: 398,000)(30-Day Avg. Volume: 370,000)
Also of note the following companies are rumored as takeover targets:
FOSTER WHEELER CORP (FWC) $14 3/16
HUBCO INC (HUBC) $ 29 7/8 (Volume Today: 185,000)(30-Day Avg. Volume: 177,000)
SYBASE INC (SYBS) $ 9 1/4
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There was no reason given why XRX would be interested in PRD. I merely passed on his information. Please, always take rumors with a grain of salt.
This is the site:
stockrumors.com |
