COMS today towards close

Discussion in 'Stocks' started by auspiv, Jul 17, 2007.

  1. auspiv


    what went on with 3com (coms) starting at abour 3:48pm today? the change from 3:47 to the afterhours high was from $4.32 to $5.20, with high volume. i looked for some major event, but couldn't find any. does anybody have any insight to this?
  2. 3Com draws buyout interest - WSJ's Deal Journal (4.36 +0.09)

    Deal Journal reports the consolidation wave that is sweeping the telecommunications-equipment sector may wash over 3Com. Deal Journal has learned that the co has in the past couple months been approached by possible buyers, including private-equity firms Silver Lake Partners and Bain Capital. 3Com and its bankers at Goldman Sachs don't appear to be rushing to do a deal, and it is unclear what price the buyout group was willing to offer. Another co that may be interested in 3Com is rival Nortel Networks (NT), people familiar with the matter said. A buyout of 3Com — at the right price — would likely be music to the ears of investors including Citadel Investment Group, which has taken a stake of nearly 10% stake in 3Com and has agitated for change.


    The after hours blip above $5.00 was because Bloomberg ran the headline and some traders piled in thinking it was new.