Newbridge Networks Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Newbridge Networks

NN 14.15

-1.4%

Feb 4 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: pat mudge who wrote (9969)	3/3/1999 12:38:00 PM
From: Glenn McDougall	Read Replies (2) of 18016

TAKEOVER OF SIMILAR FIRM IN U.S. BOOSTS NEWBRIDGE. by Bert Hill, Ottawa Citizen. Newbridge Networks stock rose yesterday on the strength of a takeover of a similar company in the United States. The deal was enough to generate a positive trading day for Kanata-based Newbridge - one of the few technology stocks in North America to enjoy gains. Stock markets dropped as investors feared that interest rates may rise. The fresh interest in Newbridge was triggered by France's Alcatel SA, Europe's second-largest phone-equipment maker. It announced it will buy U.S. rival Xylan Corp. for $2 billion U.S. in cash, strengthening its business that links computers to phone networks and the internet. Newbridgbe rose $1.55 to $38.50 on speculation the company may be valued at a similar price-to-earnings ratio as Xylan in the event of a takeover offer. "If you want to get into this business in some size, Newbridge is a great entry," said Greg Bay, president of Cypress Capital Management Ltd. in Vancouver. "Based on the other acquisitions, the $60- to $70-a-share range would be a reasonable bid for Newbridge." Newbridge was hurt last week by recurring reports that Siemens AG, its big German business partner, is about to buy Argon Networks, a New England company that makes products similar to Newbridge's. Newbridge was maintained near-term "accumulate" by analyst Thomas Astle at Merrill Lynch & Co. The 12-month target price is $48 to $52. The long term "accumulate" rating was also maintained. Regards Glenn

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next