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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (51384)	2/4/2000 8:46:00 PM
From: RockyBalboa	Respond to of 122087

Barb, that sounds familiar: biz.yahoo.com Takeout at zero. Common & Preferred holders got shortchanged. Looks like such "takeouts" will happen frequently in the dotcom sector, later this century... Tuesday February 1, 1:30 pm Eastern Time Schlumberger unit to acquire CellNet Data SAN CARLOS, Calif., Feb. 1 (Reuters) - Telemetry services provider CellNet Data Systems Inc. (NasdaqNM:CNDS - news) announced on Tuesday it will be acquired by a unit of oil field services company Schlumberger Ltd. (NYSE:SLB - news) for $55 million in cash and the assumption of $120 million in debt and other liabilities. CellNet said its acquisition by Schlumberger Resource Management Services would be handled through a Chapter 11 filing and requires bankruptcy court approval, which the company expects to complete by the end of April. If the court approves the transaction, CellNet's 14 percent Senior Discount Notes and liabilities not assumed by Schlumberger will share in the $55 million cash, the company said in a statement. No value will be allocated to the current equity of the company's common stock and the 7 percent Exchangeable Preferred Securities of CellNet Funding LLC (NasdaqNM:CNDSP - news). Under the agreement, Schlumberger will provide short-term funding to enable CellNet to continue its ongoing operations. ''This transaction ensures that CellNet continues to provide superior network service to its current utility customers, and continues to deploy and market its networks and technology,'' John LaMacchia, CellNet chief executive officer, said in a statement. ''We value our supplier relationships and are working to keep those relationships intact as CellNet begins the transition to becoming a part of the Schlumberger RMS team.'' he added.

To: Mama Bear who wrote (51384)	2/4/2000 11:34:00 PM
From: peter michaelson	Read Replies (3) \| Respond to of 122087

Barb: And the stock rises on this news!!!??????? Guess it's almost time to short again. Shares of Iridium World Communications Ltd., which were delisted from the Nasdaq National Market on Nov. 22, rose 15/16 to 5 7/8 in trading on the ''pink sheets,'' a list published daily that gives information on over-the-counter stocks not listed on the Nasdaq. The stock, which is the publicly traded arm of Iridium LLC, have fallen about 82 percent in the past 12 months. I guess everyone wants to put a certificate on the wall. peter