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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: sam who wrote (8366)	4/4/2000 12:12:00 PM
From: Graham Dellaire	Read Replies (1) \| Respond to of 24042

Corning-NetOptix Deal Clears U.S. Review Good sign for JD uniphase... Apr 4 10:40am ET NEW YORK (Reuters) - Fiber optics company Corning Inc. (GLW.N) on Tuesday said its proposed $2 billion agreement to buy NetOptix Corp. (OPTX.O) cleared the U.S. government's statutory 30-day Hart-Scott-Rodino antitrust review waiting period. Corning, N.Y.-based Corning said the merger must clear other regulatory hurdles before the deal can close, including review by the U.S. Securities and Exchange Commission. Corning agreed in February to acquire Sturbridge, Mass.-based NetOptix in a deal to bolster its role in the optical networking market. At that time, it said it expected the deal to close in the second quarter of 2000. Corning said in February that it expected the NetOptix deal to lower its earnings slightly this year. However, the addition of NetOptix will add to profits beginning in 2001 and after. Corning plans for NetOptix to supply the thin film filters it makes to a Samsung Corning Micro-Electronics venture. Corning, the original developer of fiber optics telecommunications technology, has formed an equity venture with Korea's Samsung Electronics Co. Ltd. (05930.KS). Samsung Corning Micro-Electronics will make parts for optical network capacity-boosting gear called dense wavelength division multiplexers, or DWDMs. Shares of Corning rose 7/16 to 181-3/8 in morning trading while shares of NetOptix rose 7/8 to 160-