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ADC Purchases:

May 06, 2000|Bloomberg News

ADC Telecommunications Inc. said it agreed to buy two Scandinavian fiber-optic parts companies for $1.04 billion in stock and cash to boost its components business. The news sent ADC's shares up $5.88, or 10%, to close at $63.13 on Nasdaq. Minneapolis-based ADC, which also makes equipment used to link telephone networks, agreed to pay $961.2 million for Altitun of Sweden and $80 million for Ibsen of Denmark.

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