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

To: Bucky Katt who wrote (42088)	11/24/2000 10:59:01 AM
From: KevinThompson	Respond to of 57584

Probably a good one to stuff away for awhile. The only risk I see is the changes that might occur after being converted to the new Arris Corp. I've not had terrific luck with these types of transactions lately (ADAP is a terrible sore spot for me). KT . . . Under the terms of the definitive agreement signed by the parties on October 18th, ANTEC will acquire Nortel's ownership interest (81.25%) in Arris Interactive, LLP in exchange for US$325 million in cash and 33 million shares of common stock. ANTEC, which currently owns 18.75% of Arris Interactive, LLP, will combine Arris with ANTEC's existing business under a consolidated ownership structure. Recognizing the dramatic shift in its business composition, ANTEC will rename itself Arris International, Inc. upon completion of this transaction. Following the transaction, Nortel will own approximately 46% of the new company. As a legal matter, ANTEC shareholders will exchange their shares in ANTEC for shares in the new company on a one-for-one basis, though, as a practical matter, shareholders will simply carry over their existing ownership interest to the new corporate entity. ANTEC expects to close the transaction during the first quarter of 2001.