Ascend Board to consider Lucent bid

Article Abstract:

Lucent Technologies Inc.'s takeover bid will be considered by the board of Ascend Communications Inc. in a deal that will be the biggest consolidation in the computer networking equipment industry if it goes through. Ascend's stock rose 7.3% to $76.6875 on the Nasdaq after a report in the Financial Times. Lucent's fell $2.3125 to $112.9375. Speculation that the two companies would merge has been going on for over a year. Lucent, spun off from At&T Corp. in 1996, is one of the oldest providers of telephone equipment to the phone companies. It needs Ascend's computer networking technology to stay ahead of Internet-driven changes in telecommunications in which voice, video and data communications will eventually all occur on the Internet and similiar networks. Lucent recently purchased, for $1.45 billion, another company, Kenan Systems Corp., in order to develop better billing software for its customers. Kenan's president, Kenan Sahin, will remain in his job and will become a vice-president of software technology at Lucent. Lucent's strategy is to become more important in the software sector of the data network industry.

Telephone and telegraph apparatus, Telephone Apparatus Manufacturing, Data Communications Equip, Computer network equipment industry, Network hardware industry, Lucent Technologies Inc., LU, Data communications equipment, Ascend Communications Inc., ASND, Kenan Systems Corp.

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AT&T weighs offering tied to purchase of TCI

Article Abstract:

AT&T is considering release in an initial public offering of tracking stock being created in connection with its acquisition of Tele-Communications Inc. The issue would be comprised of securities in the AT&T Wireless & Broadband unit. As much as 20% of shares in the unit will probably be issued to AT&T stockholders in an exchange offer. 10% may be offered to the general public in the IPO. It is uncertain whether the IPO will be comprised of some of the shares originally earmarked for AT&T shareholders or derived from AT&T's own holdings in the tracking stock. The intent of the issue is to raise money to be used by the new unit in further investments and acquisitions.

United States, COMMUNICATION, Communications, Broadcasting and Telecommunications, Management, Internet services, AT&T Corp., T, Cable television broadcasting industry, Cable television, Securities, Going public (Securities), Initial public offerings, Cable television/data services, AT&T Broadband and Internet Services Inc., Telecommunications Industry, TCOMA, AT and T Wireless and Broadband

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