not nearly my favorite rag, but fwiw, excerpt from today's mcpaper.
08/24/98- Updated 04:32 PM ET
Ciena shares rise on Tellabs optimism
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"Tellabs will adjust the price to something that keeps their shareholders happy," said Kevin Slocum, an analyst at SoundView Financial Group, who has a "long-term buy" rating on Tellabs.
Steven Levy, an analyst at Lehman Brothers, expects Tellabs to reduce the offer to 0.85 to 0.93 share for each Ciena share. At 0.85, Ciena shareholders would get about $49 for each share at current levels, still a premium to Monday's price.
"Any offer considered fair for Ciena would be more than the current stock price," said William Magill, an analyst at NationsBanc Montgomery Securities, who has "buy" ratings on both stocks.
usatoday.com |
