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Technology Stocks : Ciena (CIEN)
CIEN 194.21-7.3%Nov 13 4:00 PM EST

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To: David Harker who wrote (2384)8/21/1998 5:34:00 PM
From: JParks  Read Replies (1) of 12623
 
I purchased at 30 15/16. I'm thinking somewhat along the same lines, maybe a little different. First, can TLAB afford not to buy CIENA. Well, I guess they could nix the deal, but whoever the 2nd bidder was for CIEN will more than likely snap it up at these prices.

So does TLAB want to let CIEN slip away? Maybe they will renegotiate the deal, but TLAB has to be careful what they set the swap price to be. I think 2/3 a TLAB share is fine, but anything less than that could bring 2nd bidder into play again. I'm guessing if the deal is reworked, .7 will be the number, which is a great deal for TLAB. Personally, I'd rather take .4 CSCO, but what the heck!

Jim
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