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

To: Zeev Hed who wrote (26787)	5/8/2000 5:38:00 PM
From: Paul Moerman	Read Replies (2) \| Respond to of 29386

I looked at the ratio of ANCR and QLGC's closing share prices over several, recent time periods to help evaluate whether the buyout price (.5275 shares of QLGC common stock) is a fair price: time period average ratio premium represented at the .5275 offer _______________ _____________ ___________________ 1/1/99-5/31/99 .376 40% (.5275/.376) 6/1/99-12/31/99 .776 -32%, i.e. discount! 1/1/00-5/5/00 .407 30% 1/1/99-5/5/00 .561 -6%, yes, discount 5/6/99-5/5/00 .621 -15%, as in discount My conclusion from this is QLGC is taking advantage of ANCR's recent price weakness, and we longs are not getting a premium (denominated in QLGC shares) over a period of time longer than year 2000 to date. Still, I have enough confidence in Ken to support the acquisition, since he either initiated it or at least agrees 100% with it. Interested in others' views!