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

To: Paul Shread who wrote (2861)	9/10/1998 12:27:00 PM
From: gbh	Read Replies (1) \| Respond to of 12623

Paul, there seems little doubt now that the deal will have to be re-drawn again. Without a rebound in CIEN price, a .5 to .6 number seems appropriate. As far as CIEN's technology goes, I would guess/hope that TLAB did their due diligence and knows what they are buying in terms of competitiveness. This had to have much to do with why the original premium was so high. I can't imagine TLAB opting for a buyout without knowing they were getting 1st class technology. If TLAB feels they can help the current situation with their sales and marketing behind the products, then the deal will go through. But, only if their shareholders aren't hurt too badly. At this point, .8 conversion could drive TLAB to the mid to low 30's. Probably unacceptable to TLAB holders. If CIEN hold out for .8, the deal will be scuttled. I bet Birck and Nettles have their poker faces on. Birck wants this company, but Nettles doesn't want to give it away. gary