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Technology Stocks : ANTEC Corp. (ANTC) -- Ignore unavailable to you. Want to Upgrade?

To: Bosco who wrote (692)	10/18/2000 8:42:07 AM
From: Bosco	Read Replies (1) \| Respond to of 847

Hi all again - re: NT/ANTC deal, it may be a good deal all around. biz.yahoo.com best, Bosco -- text below Nortel and ANTEC to combine cable businesses TORONTO, Oct 18 (Reuters) - Nortel Networks Corp.(NYSE:NT - news) and ANTEC said on Wednesday they would combine their high speed cable access businesses into one company to advance their ability to build Internet over coaxial cable networks. The new company will acquire Nortel Networks ownership interest in Arris Interactive and in turn be renamed Arris Inc. Nortel Networks said it will transfer to the new company its 81.25 percent interest in Arris Interactive in return for 33 million shares of common stock in the new company and approximately $325 million in cash Nortel will own about 46.5 percent in the new firm while ANTEC, which currently owns the remaining 18.75 percent of Arris Interactive, will become a subsidiary of the new company, The transaction is expected to be neutral to Nortel Networks' earnings per share from operations in calendar year 2001.