CACS: Be Patient
5:05 PM -- Carrier Access Corp. (Nasdaq: CACS) gave an update on its pursuit of strategic alternatives during its third-quarter earnings call this afternoon. (See CACS Reports Q3.)
CEO Allen Snyder said that the company has "aggressively pursued a range of possibilities and has met with a number of parties." He also commented that they are hoping to conclude the process within the next 60 to 90 days, although there is no guarantee that the process will result in a deal.
If a deal happens, Tellabs Inc. (Nasdaq: TLAB; Frankfurt: BTLA) is likely to be the buyer, as we've been reporting since August. (See Tellabs Close to Carrier Access Buy, Carrier Access: Still in Play, and Tellabs Still Looking at Carrier Access.)
— Raymond McConville, Reporter, Light Reading