We pointed out that Network Express Inc shares were trading at a premium to the share exchange valuation put on them by Cabletron Systems Inc when it announced its acquisition agreement (CI No 2,919) – and it turns out that gossip of the bid had been in the market way ahead of the announcement, so that would-be insider traders got their fingers burned. According to the Wall Street Journal, that’s a takeunder.
SyQuest Technology Inc, whose shares rose about threefold last week on hopes that someone would buy it in an attempt to derail Iomega Corp’s runaway success, is not commenting on market gossip.
