Well, folks, I was wrong:
<<<
January 13, 1999
Ascend Board Accepts Buyout Offer
From Lucent for Massive Stock Deal
By LEE GOMES
Staff Reporter of THE WALL STREET JOURNAL
Ascend Communications Inc. has accepted a buyout offer from Lucent Technologies Inc. in a massive stock deal that reshapes the growing market for telecommunications equipment.
Company Profile: Lucent Technologies
The board of the Alameda, Calif., company approved the pact Tuesday afternoon, as expected. Lucent's board did the same Monday night. Terms of the purchase weren't immediately available, but people familiar with the deal said it involves a stock swap that will give shareholders of Ascend -- which has a market capitalization of close to $17 billion -- a premium for the shares.
The acquisition will give Lucent, Murray Hill, N.J., a leg up in a major new market, but it comes with some risks, say analysts and other people following the deal.
>>>
Now, I think I'll get some sleep. . .
Pat |
