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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Mark Konrad who wrote (34431)	9/11/2000 3:30:56 PM
From: G3	Respond to of 57584

I can't find it corrorobated yet. The link was ragingbull.altavista.com Then the author states it was reported in the business section of www.mcall.com dated 9/13/00. ragingbull.altavista.com Sounds reasonable... /G3

To: Mark Konrad who wrote (34431)	9/11/2000 3:37:46 PM
From: E'Lane	Read Replies (1) \| Respond to of 57584

dailynews.yahoo.com Thursday August 31 9:43 AM ET Lucent to Spin Off Avaya to Shareholders NEW YORK (Reuters) - Telecommunications equipment maker Lucent Technologies Inc. said on Thursday it would spin off its $8 billion Avaya unit, which provides technology for operator call centers and corporate campuses, by paying a special stock dividend to its shareholders. Lucent (NYSE:LU - news) said in March it would separate the slower-growing unit, which serves large corporations, so it could focus on its faster-growing optical, data networking and wireless businesses. Lucent said shareholders of record on Sept. 20 will receive one share of Avaya common stock for every 12 shares of Lucent common stock held. Cash will be paid in lieu of fractional shares. The Avaya shares will be distributed on Sept. 30, which will mark the completion of the Avaya spin-off. The number of Avaya shares to be distributed will be based on the number Lucent shares outstanding on Sept. 20. As of Aug. 30, Lucent had about 3.3 billion shares outstanding. Murray Hill, N.J.-based Lucent has been trying to restructure its operations in an effort to rebuild investor confidence and jump-start growth after failing to keep up with demand for fiber optic equipment. In July the company cut its profit outlook through the end of the year because its efforts to boost fiber optic production were more difficult and time-consuming than originally expected. Shedding Avaya also illustrates Lucent's efforts to shift away from its heritage as a maker of traditional communications equipment and to remake itself into a new-generation company providing equipment to run the Internet. Lucent has been pitted against chief rivals Cisco Systems Inc. (NasdaqNM:CSCO - news) and Nortel Networks Corp. (Toronto:NT.TO - news) in a fierce battle to supply telephone companies, Internet service providers and large corporations with sophisticated equipment that can handle increasingly large volumes of data and voice traffic. Lucent recently reorganized its optical networking unit and announced plans to spin off its microelectronics unit, which makes optical components and semiconductors. More changes are expected. The company plans to cut overhead costs, improve procurement procedures and introduce other major organizational changes in the coming months, company sources have said. Lucent said it had received a ruling from the Internal Revenue Service that the Avaya dividend to shareholders qualifies as tax-free for federal income tax purposes, except to the extent that cash is received in lieu of fractional shares.