3Com on the block?
Reports yesterday said that an unnamed private equity group is targeting the network company, and is willing to pay as much as $7 per share. 3Com stock, which has traded between $3.47 and $5.70 for the past 52 weeks, closed at $5.02 after lots of trading, reports said.More here.
The jump was triggered by a report from UBS stock analyst Long Jiang that indicated 3Com’s recent efforts to shore up majority ownership in its joint venture with Chinese equipment maker Huawei could make the network company more valuable. 3Com has a 51% joint venture stake in the Chinese company.
posted by Fergie @ 10/06/2006 03:59:00 PM
0 Comments:
Post a Comment
<< Home