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Technology Stocks : Echelon Corporation (ELON) -- Ignore unavailable to you. Want to Upgrade?

To: Stcgg who wrote (2161)	5/18/2000 5:52:00 PM
From: Guy	Read Replies (1) \| Respond to of 3076

You might Have a point, The following is from biz.yahoo.com Q2. What are the proposed terms of the common stock sale, including the price? A2. The parties are still negotiating the stock purchase agreement and it would be premature to discuss all of the terms at this time. However, under the terms of the memorandum of understanding, Enel's purchase price for the shares would be 110% of the average closing trade price for Echelon's Common Stock on the NASDAQ National Market for the ten (10) trading days ending on the trading date prior to the closing date; provided that such price shall be no greater than $43.6425 and no less than $29.0950, a reference range centered around 110% of the closing trade price for Echelon's Common Stock on the NASDAQ National Market at the signing of the memorandum of understanding.

To: Stcgg who wrote (2161)	5/18/2000 6:11:00 PM
From: spiral3	Respond to of 3076

enel deal: my take This pretty much says it all...The parties are still negotiating the stock purchase agreement and it would be premature to discuss all of the terms at this time. My understanding of the the proposed terms of the common stock sale... Provided that the average closing price for the ten trading days prior to the close of the deal, is between $43.6425 and $29.0950, then the deal will be priced at 110% of this average price. If this average closing price for the last 10 days before the deal is closed, is not in the $43.6425 - $29.0950 range then different terms will be negotiated. BWDIK note: the preliminary agreement for Enel to purchase $300million worth of hardware/ software/ services, is a seperate contract. Q1. What is the status of the definitive agreement? A1. Enel and Echelon are negotiating two definitive agreements, one agreement for Enel's purchase of three million shares of Echelon's common stock and a separate agreement relating to the products and services that will be used in Enel's Contatore Elettronico system. The companies expect to complete these agreements in June. Q2. What are the proposed terms of the common stock sale, including the price? A2. The parties are still negotiating the stock purchase agreement and it would be premature to discuss all of the terms at this time. However, under the terms of the memorandum of understanding, Enel's purchase price for the shares would be 110% of the average closing trade price for Echelon's Common Stock on the NASDAQ National Market for the ten (10) trading days ending on the trading date prior to the closing date; provided that such price shall be no greater than $43.6425 and no less than $29.0950, a reference range centered around 110% of the closing trade price for Echelon's Common Stock on the NASDAQ National Market at the signing of the memorandum of understanding. biz.yahoo.com