On January 13, 1999, Lucent Technologies announced that it would
merge with Ascend Communications. The agreement,
was approved by each company's board of directors.
Each share of Ascend was converted into 0.825 shares of Lucent.
The deal was valued at approximately $20 billion.
"This merger positions Lucent to be a clear leader in communications networking and will have a significant, positive impact on enhancing shareholder value," said Rich McGinn, chairman and chief executive officer of Lucent Technologies.
"Virtually every major service provider worldwide is making decisions on how to engineer and deploy its new or evolving network for data, voice, fax and video services," McGinn continued. "On the short list of companies that service providers want to work with, Lucent and Ascend together will lead the pack. This merger makes our portfolio broader and more powerful, and gives us the edge as we develop the next generation of networks."
Buy | 10 Shares @ 79 1/2 | ASND | ASCEND COMMUNICATIONS | $795.00 | ||||
---|---|---|---|---|---|---|---|---|
Commission | $14.95 | |||||||
TOTAL | $809.95 |
Buy | 25 Shares @ 89 7/8 | ASND | ASCEND COMMUNICATIONS | $2,246.88 | ||||
---|---|---|---|---|---|---|---|---|
Commission | $3.73 | |||||||
TOTAL | $2,250.61 |
Buy | 10 Shares @ 88 7/8 | ASND | ASCEND COMMUNICATIONS | $888.75 | ||||
---|---|---|---|---|---|---|---|---|
Commission | $1.49 | |||||||
TOTAL | $890.24 |
Net proceeds from the sale. | $949.75 | |||||||
Less acquisition costs = net profit before taxes (Capital Gains) | $139.80 |
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Net proceeds from the sale. | $2,355.65 | |||||||
Less acquisition costs = net profit before taxes (Capital Gains) | $105.03 |
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WE CURRENTLY OWN 10 SHARES
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