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Politics : Ask Michael Burke
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To: Dnorman who wrote (31891)8/30/1998 11:35:00 AM
From: Knighty Tin  Read Replies (1) of 132070
 
Dennis, The same guy. Still love deeply discounted CEFs.

I think that Ciena will go up from here, though it may be Tellabs going up and taking Ciena with it. I have calls on both Ciena and TLAB right now, though I had puts on Ciena before the crash. My reasoning is that if the deal is done, Ciena has to go to 80 pct. of Tellabs price and TLAB itself may bounce in any market rally. If the deal does not go through, Ciena may find another suitor and Tellabs will soar.

My guess is that the only reason the deal has any chance of being approved is because Mike Birck owns 13 pct. of Tellabs and there may be enough brain dead proxies to make up the other 37 pct. But the shareholders are up in arms at Tellabs right now. They paid twice what the co. was worth and now they're mad because it has approached fair value. -g-

MB
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