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

To: hitesh puri who wrote (60031)	2/18/1999 5:36:00 PM
From: Mighty Mizzou	Respond to of 61433

Im not concerned, are you? The closing date is still 3-4 months away. That seems like a lot of time for this gap to close. Do you think there is something up?

To: hitesh puri who wrote (60031)	2/18/1999 5:44:00 PM
From: Jay Couch	Respond to of 61433

Hitesh, Just a data point here, but I worked for a company called Norand a couple of years ago, and we were acquired in a tender offer for $33 per share. The day it was announced, our stock shot up to $32.75 per share, and the gap slowly closed to $33 over the two months that it took to close the deal. I've never heard of a merger taking as long to close as this LU/ASND deal, but I imagine that the reason the gap is fluctuating is because the close date is so far out. Jay

To: hitesh puri who wrote (60031)	2/18/1999 5:51:00 PM
From: Alok Sinha	Respond to of 61433

Bankers Trust has a $94 cash offer from Deutsche Bank, the acquisition is expected to close around Jun 30, and BT stock trades at 84 - 86. There is little uncertainty regarding that deal since it is widely rumored that the Fed encouraged (arm twisted ??) BT into partnering with a larger institution. The only reason LU/ASND arb difference is due to the TLAB/CIEN deal falling apart and it was the same industry. I am hoping we close below 75 tomorrow, since I have some covered calls on part of my position. Regards Alok

To: hitesh puri who wrote (60031)	2/18/1999 6:08:00 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 61433

Hitesh, I suspect that the growing gap has little to do with LU or ASND and a lot to do with the overall market condition. Me thinks that people might be getting nervous out there and this will be exaggerated wherever there is potential risk, such as with an acquisition. Pure speculation on my part. JXM

To: hitesh puri who wrote (60031)	2/18/1999 6:58:00 PM
From: Sure Thing	Respond to of 61433

hitesh, Since I now have over 60% of my funds in ASND, I'll take a stab at why the Arb difference has increased. It's simple, LU is moving in 5 point swings and the Arbs are worried about the recent weakness in the market. They are just protecting their butts! This fear works in favor of the little guys like me, who believe the LU/ASND deal is solid as a rock and find the weakness as an opportunity to load up on ASND. I'm with Mighty, - Sure Thing -