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

To: MikeM54321 who wrote (719)	10/19/2000 11:24:45 AM
From: Scanner	Read Replies (1) \| Respond to of 847

I think there is still something missing here. Could it be that this is just the first step for Nortel? Is it possible that the cash they received will help Nortel buy out Liberty and/or Hancock as a second step? Just a thought because it seems to me that it has not been made public what this means to shareholders of ANTC. As it stands right now, I'm not sure this is such a great thing. There is a step missing. Any thoughts???

To: MikeM54321 who wrote (719)	10/19/2000 12:17:43 PM
From: JimieA	Read Replies (1) \| Respond to of 847

My take on this deal is: Antec buys the 81.25% of Arris that NT owns. Pays NT $325M in cash. (Hopefully Arris has the bulk of this $) Also Pays NT 33M shares of ANTC. Since ANTC has 37M shares outstanding. The 33M new shares will represent about 46.5% of ANTC. Antec changes name to Arris. We still own on a one for one basis Antec stock. Now called Arris. Also Arris operating results were not directly included in Antec’s operating results. What is included is: Antec bought from Arris and resold. As such included Arris purchases in cost of sales. Also Antec somewhere buried the 18.75% equity in Net Income of Arris. Am I way off? Does anyone know what the financials of Arris looks like? We know that: “Arris had revenue of $329 million last year and $254 million in the first half of this year - about half on sales to Antec. “ What about profits, Balance sheet, etc?

To: MikeM54321 who wrote (719)	10/19/2000 2:04:13 PM
From: Arthur Tang	Read Replies (2) \| Respond to of 847

I am basing on the 10q reports that I read and analyzed on the fly. Revenue were about $65 million per division or product classifications last year. Earlier this year they were up to $75 million per division. The negative impact on the stock value currently, may be disapproval by Wall street. More stockvalue at the close of this merger may mean less cash is required. But the stockholders including AT&T may well approve the reverse merger. If the stockholders and NT all vote to get twice the number of shares for the new company, it will make sense with Wall street too. More stock will enable wider distribution. However, no investment bankers were mentioned to keep the valuation of the deal honest. The initial stockvalue depreciation after the 2:1 split may be anticipated, but the lowering of cost of stock owned presently to the stockholders are welcomed. Not to mention that the shorts by market makers will be easier to recover. Future earnings will propel the stockvalue according to the growth for the new company. I am confident that the growth will be good enough for all parties to be happy with the extra number of shares.