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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: t36 who wrote (25908)	12/4/1997 8:57:00 PM
From: pat w.	Respond to of 61433

Evening Update: Ascend Said to Reject Bid from Lucent By John J. Edwards III Staff Reporter 12/4/97 8:15 PM ET It wouldn't be Wall Street without takeover speculation. Thursday evening provided some more, as resurfaced rumors about a networking player lead our post-close compilation (earnings estimates from First Call): Ascend (ASND:Nasdaq) rejected a $35-per-share takeover bid from Lucent (LU:NYSE) and expects a sweetened bid of $40, CNBC reported. Ascend was up 3 3/16, or 13.5%, to 26 7/8 during the trading session, as rumors swirled that Lucent or Northern Telecom (NT:NYSE) planned to pounce on the networker. But Ascend shares barely budged in after-hours trading, according to Reuters. TheStreet.com examined Ascend's ripeness for the takeover picking in an Oct. 21 story.