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To: Dealer who wrote (26404)	7/24/2000 8:35:07 AM
From: Dealer	Read Replies (1) \| Respond to of 35685

JDSU--Nortel, Corning Reportedly Eye Merger By Tim Arango TheStreet.com/NYTimes.com Staff Reporter 7/24/00 8:17 AM ET Technology equipment companies Nortel Networks (NT:NYSE - news) and Corning (GLW:NYSE - news) are said to be in merger talks that could lead to a deal valued at over $100 billion, The Wall Street Journal reported Monday, citing people familiar with the matter. The Journal cautioned that the potential deal, which involves Nortel selling its optical parts unit to Corning, is not imminent and could fall apart. The talks center around a stock swap that would give Ontario-based Nortel more than 50% of Corning, with Corning maintaining its independence and owning the optical parts unit. The merger would follow the recent deal in which JDS Uniphase (JDSU:NYSE - news), the world's largest maker of fiber optics components, agreed to buy SDL (SDLI:Nasdaq - news) in a deal valued at the time of close to $41 billion. Corning, N.Y.-based Corning reportedly lost out in the bidding for SDL. The rumored price tag of $100 billion is based largely on expected growth in the optical-parts business, according to the article, which estimated the unit's revenues at around $1 billion. Nortel closed Friday at 80 13/16, up 2 1/2. Corning closed at 283 3/4, up 8 1/8.