CACS Update

Many offers, little prices

Phil Harvey, Editor-in-Chief

November 1, 2007

1 Min Read
CACS Update

6:40 PM -- Investment sources watching Carrier Access Corp. (Nasdaq: CACS) say the company's founder and former CEO, Roger Koenig, has confirmed that Carrier Access has been showered with received multiple offers for the company.

The offers are characterized by our sources as being "in the $5 to $6 range," which is well below what the company could have fetched earlier. Or before that.

According to one investor who claims to have talked to Koenig in the past month:

"I asked him twice about the offers being made and he twice he confirmed that, 'Yes, we have offers as a part of the strategic alternatives review process.' He would not elaborate as to the structure of these offers. He also said that 'more interested parties have emerged now when the stock price has come down.' "

A call to Carrier Access to ask about the conversation wasn't returned.

The bad news? Shares of Carrier Access are down about 46 percent year-to-date. The good news? Apparently, more suitors line up as the share price plummets.

Wall Street analysts have the company losing $1.03 a share on revenues of $32.6 million this year, according to Thomson Financial .

— Phil Harvey, Barely Managing Editor, Light Reading

About the Author(s)

Phil Harvey

Editor-in-Chief, Light Reading

Phil Harvey has been a Light Reading writer and editor for more than 18 years combined. He began his second tour as the site's chief editor in April 2020.

His interest in speed and scale means he often covers optical networking and the foundational technologies powering the modern Internet.

Harvey covered networking, Internet infrastructure and dot-com mania in the late 90s for Silicon Valley magazines like UPSIDE and Red Herring before joining Light Reading (for the first time) in late 2000.

After moving to the Republic of Texas, Harvey spent eight years as a contributing tech writer for D CEO magazine, producing columns about tech advances in everything from supercomputing to cellphone recycling.

Harvey is an avid photographer and camera collector – if you accept that compulsive shopping and "collecting" are the same.

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