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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (26744)	5/8/2000 1:41:00 AM
From: Sarkie	Respond to of 29386

QLogic buys Ancor for $1.8 billion in stock-WSJ ============================================================ NEW YORK, May 8 (Reuters) - QLogic Corp. (NASDAQ:QLGC), which makes high-speed electronic connector components, agreed to buy Ancor Communications (NASDAQ:ANCR), which provides fiber switches for data storage networks, in a $1.8 billion stock deal, the Wall Street Journal reported in its online edition on Monday. The Journal, citing company officials, said the deal values Ancor at $52.71 a share, well above its Friday closing price of 31-3/16 on the Nasdaq stock market. Ancor shareholders will receive 0.5275 a share of QLogic for each share of Ancor under terms of the deal, which is expected to be announced as early as Monday, the report said. The Journal said Goldman Sachs Group Inc. (NYSE:GS) advised Ancor on the deal, while SG Cowen served as QLogic's financial adviser. Copyright 2000, Reuters News Service ================================================================