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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00130

-18.8%

Nov 7 11:47 AM EST

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To: BeachCrunc who wrote (28725)	3/4/1999 9:49:00 AM
From: Doughboy	Read Replies (3) of 45548

If you read the NY Times article, it's clear that the 1.2 bb is for 3Com's networking business alone. The other Siemans investments are separate; Siemans might invest as much as 3 bb total. Obviously, 3Com is pairing up a little late, so the big buyers (Nortel, Lucent, Alcatel) have already taken their dates into the back room and are plugging them for all that they're worth. So don't expect a bidding war for the ugly girl. (sorry for the sexist metaphors.) The question is, is 3Com's business worth more than 1.2 bb? Anyone have any thoughts on that? I would expect that 3Com would use the money for the stock repurchase plan; that could reduce the float by approx. 48 million shares which may add .20 cents to fy99 earnings (or about 15%). Since that business is not the one that is struggling, I think it may be a cheap buy by Siemans. Doughboy.

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