Tuesday, December 9, 2008

Scientific Atlanta 401k Before 2005 CISCO Buyout

I planned to scan the Scientific Atlanta 401k only to find they had been bought by CISCO in 2005. I went ahead and looked at the Funds in the 2005 401k with more than 5% of the plan which included company stock. The stock was selling at 33 on 12/31/2004 per the 11-k filing and CISCO paid 43 in cash for the company stock. Unlike recent events with company stock in almost every company down sharply, here was a case where the Employee's 401k portfolios benefited from their company stock holdings. I liked that. The FMIP2 symbol stands for the Fidelity Managed Income Portfolio II which is not traded on a public exchange.

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