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Ciena Corporation Message Board

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  • rickotto1 rickotto1 Sep 24, 1998 1:10 AM Flag

    Lets face it, LU is junk......

    Thursday September 24, 12:41 am Eastern
    Time

    Cisco CEO distances himself from any
    Ciena
    purchase

    WASHINGTON, Sept 23 (Reuters) - Cisco Systems
    Inc.
    (Nasdaq:CSCO - news) Chief Executive Officer John
    Chambers
    distanced himself from rumors on Wednesday that his
    company
    may purchase Ciena Corp. (Nasdaq:CIEN - news),
    a
    telecommunications equipment supplier.

    Chambers told a small
    group of reporters that Ciena has ``a number of
    serious'' shortfalls, measured
    against criteria his
    company uses in deciding whether to acquire other
    companies.

    Chambers ticked off the criteria: A common vision,
    short-term wins for Cisco after the
    acquisition,
    long-term strategic importance, a similarity of chemistry
    and culture, and geographic
    proximity.

    Nonetheless, Chambers said he has admiration for the CEO of
    Ciena. Asked by a reporter, he
    rejected the notion
    that the rumors were floated merely to help increase
    the price of the stock.

    Shares of Ciena Corp.
    rose 26 percent on Tuesday as rumors circulated that
    it might be a takeover
    target and that Cisco
    might be a possible buyer.

    Cisco is a leader in
    the manufacture of computer network equipment used on
    the Internet.

    Chambers said that his company
    looks for companies that will help it achieve its goals
    as it moves
    into new areas. And he said what his
    company purchases is largely the expertise of engineers
    and
    others.

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