Its in the doghouse and thus a pump and dump in chatrooms today. although im sure current shareholders feel good, at least for a day.
Wall Street Journal-after the bell
LCC Intl Up 92%; Analysts Cite Takeover Speculation
By Christopher Bowe
CHICAGO (Dow Jones)--Shares of LCC International Inc. (LCCI) ended Thursday trading up
67.5% on takeover speculation posted on the Internet, analysts said.
LCC International, an Arlington, Va., system designer and builder/manager of towers for wireless
telecommunications, was rumored on Internet chatrooms to be a possible takeover candidate for
American Tower Corp. (AMT).
The rumors have little to substantiate them, analysts said.
Citing knowledgeable sources, Everen Securities analyst Jennifer Murtaugh said such a takeover is
unlikely.
Furthermore, LCC International's acting chairman controls the company through voting shares and
has appeared "pretty committed" to growing it as a single entity, said Seth Potter, analyst at Sands
Brothers & Co.
However, in an already consolidating industry, American Tower and LCC International would make
a good combination, Murtaugh said.
"Fundamentally, I think it makes a lot of sense," she said.
An LCC International spokeswoman said the company did not comment on speculation. She also said the company knew of no concrete reason for the stock's heavy volume and price gains.
Shares closed Thursday up 2 13/32 at 5 31/32 on heavy volume of 5.1 million shares. Average daily
volume is 61,300.
-Christopher Bowe; 312-750-4141 |
