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Technology Stocks : DSC Communications -- Ignore unavailable to you. Want to Upgrade?

To: Paul Lee who wrote (4394)	8/27/1998 12:15:00 PM
From: Paul Lee	Read Replies (1) \| Respond to of 4429

DSC Communications Stockholders Approve Merger With Alcatel PARIS and DALLAS, Aug. 27 /PRNewswire/ -- Stockholders of DSC Communications Corporation (Nasdaq: DIGI) today approved the proposed merger agreement with Alcatel (NYSE: ALA) at a special stockholders meeting. A majority of the outstanding DSC shares were voted in favor of the merger. As of today's date, all conditions for closing of the merger have been met except for clearance by the U.S. Department of Justice under the Hart-Scott-Rodino antitrust act. Termination of the Justice Department review is expected by the end of next week. The transaction is expected to close promptly thereafter. Upon closing, DSC shareholders will receive 0.815 shares of Alcatel ADS (American Depository Shares), which represents 0.163 shares of ordinary Alcatel stock, for each outstanding DSC share. Following completion of the merger, Alcatel intends to combine DSC's activities with those of its United States operations. DSC chairman and chief executive officer, James L. Donald, commented, "I am pleased our shareholders approved the merger agreement with Alcatel. The combined business operations are a strong strategic fit structured to provide excellent products and services to DSC/Alcatel customers and to deliver long- term value to shareholders." A world leader in telecommunications systems and equipment, as well as related cables and components activities, Alcatel operates in over 130 countries. Alcatel provides complete solutions and services to operators, service providers, enterprises and consumers, ranging from backbone networks to user terminals. For more information, visit Alcatel on Internet: alcatel.com or the U.S. web site at usa.alcatel.com.