Published November 17, 1997
Volume 5, Number 11

Business Bits

  • Lucent Technologies is acquiring Livingston Enterprises Inc. in a merger involving approximately $650 million in stock. "We are tremendously excited about becoming a part of Lucent," said Steven Willens, Livingston president and CEO who will serve as head of the new Lucent division. "On our own, we built a leadership position providing remote access servers to more than 2,200 Internet Service Providers (ISPs) around the world," he said. "Working as a part of Lucent we have the opportunity to more effectively meet the needs of those providing Internet access."
  • Documentum, Inc. will offer to the public 2.1 million shares of its common stock at a price of $29.75 per share. Morgan Stanley & Co. Inc., BT Alex. Brown Inc. and Deutsche Morgan Grenfell Inc. served as managers of the underwriting group. 
  • PeopleSoft will initiate a two for one stock split which will be effected as a stock dividend. Share holders of record on November 21 will receive a certificate good for an additional share of stock for each share held. The certificates will be distributed on December 5. The split will increase the number of shares of common stock outstanding to approximately 225,000,000 shares. 
  • Employees from the corporate offices of Robert Half International, Inc., raised over $19,000 to help fight multiple sclerosis by participating in the 13th Annual Waves to Wine bike ride. The 27 "Easy RHIders" and eight additional company volunteers raised more money than any other corporate team. 
  • Signature Properties was recognized by the Pleasanton Chamber of Commerce at the 35th Annual Community Development Awards. Signature was the honoree in the business category. 
  • McWhorter's Stationers are expected to open ten more stores in 1998. McWhorter's, which was acquired in 1996 by US Office Products, opened nine stores in 1997, bringing its total number to 35. The company has seven stores in the East Bay. 


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