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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: JeffA who wrote (85999)	1/10/2000 9:17:00 AM
From: kathyh	Read Replies (2) \| Respond to of 90042

hi jeff... how are things in argentina? or are you back at home now? some cs news... Monday January 10, 9:01 am Eastern Time Efficient Networks, shareholders to sell stock WASHINGTON, Jan 10 (Reuters) - High-speed DSL equipment developer Efficient Networks Inc. (NasdaqNM:EFNT - news) and some of its shareholders, including Cabletron Systems Inc. (NYSE:CS - news), filed on Monday to sell five million common shares. Dallas-based Efficient Networks is selling two million shares, currently worth more than $127 million, and plans to use the net proceeds for general corporate purposes, especially working capital, additional sales and marketing efforts, and potential acquisitions. The shareholders, who also include Texas Instruments Inc. (NYSE:TXN - news), Siemens AG and Covad Communications Group Inc. (NasdaqNM:COVD - news), are selling the other three million shares, according to a Securities and Exchange Commission filing. Mark Floyd, the president and chief executive officer of Efficient Networks, also plans to sell some of his shares, the filing showed. Efficient Networks said it will not receive any of the proceeds from the shares sold by the stockholders. If there is heavy demand for the offered shares, then underwriters led by Credit Suisse First Boston have an option to buy 750,000 more shares. Efficient Network shares closed Friday at 63-3/4 on Nasdaq. -------------------------------------------------------------------------------- More Quotes and News: Cabletron Systems Inc (NYSE:CS - news) Covad Communication Group Inc (NasdaqNM:COVD - news) Efficient Networks Inc (NasdaqNM:EFNT - news) Texas Instruments Inc (NYSE:TXN - news) Related News Categories: IPOs, US Market News --------------------------------------------------------------------------------