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To: Serge Collins who wrote (8950)	1/11/1999 9:54:00 AM
From: pat mudge	Respond to of 18016

At least the suspense is now over and we can all get on with other things but rumours. Wouldn't it be wise to wait until there's an official announcement? Pat

To: Serge Collins who wrote (8950)	1/11/1999 10:15:00 AM
From: Dennis R. Duke	Read Replies (1) \| Respond to of 18016

I divided the $16 billion by the outstanding shares and got the number I posted. Someone on Yahoo did the calculation and so I decided to do it independently and came up with the $73.75 number. The market will do what it wants. Heck, if they said ASND.com the market would probably run the price up to twice the expected offer. The article said that the current market value of ASND was $15.5 billion. An offer of $16 billion is only a 3.2% over that. That also jibes with the numbers I posted. Maybe they are adding the $150 million for the sale of the Stratus unit back to the Stratus management group. Actually that should be worth about 70 cents per share. Whatever, (-8 Dennis 8-)

To: Serge Collins who wrote (8950)	1/11/1999 3:37:00 PM
From: pat mudge	Read Replies (4) \| Respond to of 18016

Serge -- I don't believe the ASND/LU merger rumor for one second. Just the same, I'd like your opinion on this short article from Dow Jones: January 11, 1999 Dow Jones Newswires Research Dir: Insider Selling Up In Broad Mkt In Last Month NEW YORK -- Insider selling has increased in the last month, according to Craig Columbus, director of research at Disclosure Inc., a firm that tracks legal insider trading activity. "We've started to see a little bit of a pickup in insider selling because the market has run up so much," Columbus told CNBC Monday. He said Lucent Technologies Inc. (LU), which is reportedly close to a deal to buy Ascend Communications Inc. (ASND) for about $16 billion, has had "very little" insider selling. One executive has sold 36,992 shares since July, said Columbus. Meanwhile, he said, Ascend had more than 575,000 shares sold in November by insiders, including Chief Executive Mory Ejabat and Chief Financial Officer Michael Ashby. Why would Mory and Michael sell so at November's prices if they thought they'd get 70-80 from LU? Pat