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

To: Mighty Mizzou who wrote (50447)	7/28/1998 2:31:00 AM
From: Bindusagar Reddy	Respond to of 61433

Board approves, GTE+BA merger.Should be positive for ASND, since GTE and BA both use ATM from ASND. Industry consolidation is playing into ASND's hands. Any other thoughts on this one. July 28, 1998 Bell Atlantic and GTE Boards Approve Plans for a Merger Stock Swap of $55 Billion Could Snag Over Curbs Covering Long Distance By JARED SANDBERG and STEVEN LIPIN Staff Reporters of THE WALL STREET JOURNAL NEW YORK -- The boards of Bell Atlantic Corp. and GTE Corp. approved a $55 billion stock swap, bringing together GTE's local, long-distance, wireless and Internet offerings with Bell Atlantic's local and wireless phone service. In order to do a "no premium" merger of equals, GTE appears to have agreed to a price that was slightly below Friday's closing stock price of $57.9375 a share, though the exact per-share offering couldn't be learned. Monday, after The Wall Street Journal reported that the price may be below the current stock price, shares of GTE slid 4% to $55.75, down $2.1875, while Bell Atlantic shares fell to $45, down 18.75 cents. A Bundle of Services