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Technology Stocks : PairGain Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Patricia who wrote (36007)	2/23/2000 10:31:00 AM
From: BWAC	Respond to of 36349

"Under the terms of the agreement, each share of PairGain's common stock will be converted into 0.43 share of ADC common stock with a fixed exchange ratio. Based on the closing share price of $46.81 for ADC's stock on February 22, 2000, the transaction is valued at approximately $1.6 billion. The proposed transaction is expected to be completed during ADC's third fiscal quarter, which ends July 31, 2000, " I take the 'fixed ratio' to mean fixed at .43 ADCT to 1 PAIR. PAIR is trading in lock step with ADCT's falling price. Deduct about $1 for the tiem value of the deal.

To: Patricia who wrote (36007)	2/23/2000 10:37:00 AM
From: max power	Respond to of 36349

<<<Under the terms of the agreement, each share of PairGain?s common stock will be converted into 0.43 share of ADC common stock with a fixed exchange ratio. Based on the closing share price of $46.81 for ADC?s stock on February 22, 2000, the transaction is valued at approximately $1.6 billion. >>>> I don't see any fixed date of valuation. The only dates I see are yesterdays close to put a $ figure on the deal and the 3rd quarter date when the deal should close. In this quote there is a period after the word "ratio" max

To: Patricia who wrote (36007)	2/23/2000 10:39:00 AM
From: Jim S	Read Replies (1) \| Respond to of 36349

Agree. cbs.marketwatch.com ADC to buy PairGain for $1.6 billion By Steve Gelsi, CBS MarketWatch Last Update: 9:35 AM ET Feb 23, 2000 NewsWatch MINNEAPOLIS (CBS.MW) -- PairGain Technologies' shares soared in pre-market trading Wednesday after ADC Telecom said it's buying the DSL specialist in a stock swap that values PairGain at $20.13 a share, or $1.6 billion. ADC (ADCT: news, msgs) said it'll pay 0.43 shares of its stock for each share of PairGain (PAIR: news, msgs). The deal values PairGain at $20.13 per share, or a premium of about 25 percent. In regular-session trading on Tuesday ahead of the deal's announcement, the stock closed up 5/16 at 16 1/16. PairGain shares rose 3 15/16, or 25 percent, to 20 in pre-market trades. ADC's stock jumped 4 7/8 to 46 13/16 on Tuesday. ADC said the deal strengthens its position as a broadband supplier. Tustin, Calif.-based PairGain designs, manufactures and markets digital subscriber line networking systems. ADC plans to complete the deal in its third quarter. ADC expects the acquisition to be nondilutive to its earnings per share for the balance of fiscal year 2000, and it says it will add 5 cents to earnings per share in fiscal 2001.