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Technology Stocks : ADC Telecommunications -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (693)	6/22/1999 1:19:00 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 1944

ADC TELECOMMUNICATIONS INC has agreed to acquire the Irish software company SAVILLE SYSTEMS PLC in a stock deal valued at $700 mln, ADC said. The transaction, approved by the boards of both companies, calls for each ordinary share of Seville to be exchanged for 0.358 share of ADC. The deal is expected to close during ADC's fiscal fourth quarter, ending October 31, and will be accounted for as a pooling of interests. ADC said it expected the acquisition to be nondilutive to its earnings per share in the first 12 months after closing, and accretive thereafter. (Reuters 08:24 AM ET 06/21/99) For the full text story, see infobeat.com ''We own the hardware piece of the last mile and Saville owns the software piece,'' Cadogan said. ''Together we think it's a pretty formidable array of technology.'' The merger still requires government and Saville shareholder approval. The deal is not expected to trim earnings in the next 12 months, and will add to earnings after that, ADC said. biz.yahoo.com