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Technology Stocks : Ciena (CIEN)

CIEN 214.35

+0.7%

Dec 9 4:00 PM EST

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To: Bald Man from Mars who wrote (4965)	11/2/1998 3:14:00 PM
From: sam	Read Replies (1) of 12623

Looks like Volpe Brown is trying to rain on the parade: CIENA Corp. (CIEN) 21 +3 7/8: Volpe Brown Whelan believes that the acquisition of CIEN at current levels would be massively dilutive for all but the largest acquirer; Tellabs (TLAB 56 1/2 +1 1/2), its prior suitor, would for example have to pay about $10 a share for the deal to be earnings neutral; Cisco Systems (CSCO 64 3/16 +1 3/16), on the other hand, is large enough to swallow a $20 per share take out price with minimal (less than $0.05 a share) earnings dilution; believes enthusiasm for CIEN near-term operating performance remains premature and is set to report difficult Q4 results on December 10; hence, firm not sold on the idea of a deal forthcoming given current price of stock and the potential buyers given uncertain times..... Per Briefing

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