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Technology Stocks : Nortel Networks (NT)
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To: John Messbauer who wrote (648)8/31/1998 10:42:00 PM
From: Lerxst  Read Replies (2) of 14638
 
John,

The point is there is *no* specific price associated with this deal. Upon completion of the merger, Nortel issued 0.6 shares of stock for every 1 share of Bay stock that was outstanding. That's it.

To recalculate one's portfolio, multiply the number of shares held by 0.6 and divide the purchase price by 0.6. For example, if last Friday you held 100 shares of Bay that you purchased at $25, you now hold 60 shares of Nortel with a basis price of $41.6667.

Regards,

Lerxst
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