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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Tunica Albuginea who wrote (12498)	8/2/1999 6:03:00 AM
From: Michael F. Donadio	Respond to of 18016

Newbridge Networks: Next on the auction block By Om Malik messages.yahoo.com SILICON VALLEY. 02:10 PM EDT—European telecommunication equipment companies, feeling left behind their American counterparts, are opening their checkbooks and looking to snap up some North American networking hardware makers. Alcatel of France acquired Xylan for $2 billion while General Electric Company of U.K. acquired Fore Systems for about $4.5 billion. Now the word is that the latest company to go on the auction block is Newbridge Networks of Kanata, Ontario. Sources familiar with the company say that Newbridge is in talks with Ericsson of Sweden, a deal that could be announced as soon as Monday. However, when contacted by Forbes.com, Newbridge spokesperson Chris Fox said: "We are not in active negotiations." Fox dismissed the deal as rumor. Nevertheless, the teams from two companies are said to be holed up in Washington, D.C., hammering out the terms of the agreement. The meetings have been going on for almost a week now. The deal is said to net Newbridge shareholders over $30 a share, making this a $5 million-plus merger. Newbridge Networks has 178.6 million shares outstanding, with Chairman and Chief ExecutiveTerrence Mathews owning about 25% of the company. Newbridge did not respond to calls before press time. ....con't