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

To: Larry S. who wrote (2665)	9/2/1998 2:18:00 PM
From: gbh	Read Replies (1) \| Respond to of 12623

Larry, your assumption about a 10% discount to the merger multiple assumes investors (mainly the arbs) feel the deal is solid. Obviously they don't feel its solid. This deal may yet fall apart completely, or be re-negotiated yet again.

To: Larry S. who wrote (2665)	9/2/1998 3:27:00 PM
From: Helios	Respond to of 12623

Many on the thread seem to assume some special knowledge by the arbs, but in fact they were badly badly burned by the merger renegotiation. They take large positions trying to gain a few cents per share so I imagine that it will be awhile before they recover from this. My guess is the arbs are sitting this one out.

To: Larry S. who wrote (2665)	9/2/1998 5:17:00 PM
From: Dave Twibell	Read Replies (2) \| Respond to of 12623

Larry, that rotten stench eminating from Denmark is fear. Fear, at least the irrational type, creates opportunity for those able to see through it. In my book, CIEN is a screaming, pound-the-table, shout-it-from-the-rooftops buy here. The odds are extremely good that the TLAB/CIEN deal will go through as planned - TLAB wouldn't have renegotiated the deal unless it had support from its major shareholders and the SEC review should be a no-brainer. If so, you pocket the current discount of about 20%, plus whatever amount TLAB stock appreciates, if any, between now and then. In the unlikely event the TLAB deal craters, CIEN is still a solid buy at these levels and its price will undoubtedly be supported by the inevitable rumors that LU, CSCO, or any number of other possible buyers will be taking a shot at it in the near future. Good luck Dave