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Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: Doughboy who wrote (2304)	6/11/1998 11:21:00 PM
From: Gary Korn	Read Replies (1) \| Respond to of 12623

DoughHboy, Thank you for the information. Given my understanding that the deal involves a 1 for 1 stock swap, I've opened an arbitrage position wherein I've bought CIEN and sold short and equal amount of TLAB. The price differential between the two stocks when I did this was 2 points, with CIEN below TLAB. Over time, and certainly by the August close (if it closes, which is the gamble here), the spread should narrow to zero, at which time I will close out the position. Gary Korn