Farallon Capital Management Adds Sycamore Networks Inc. (SCMR) To Its Equity Portfolio

Farallon Capital Management, in latest filing, disclosed that it initiated a position in Sycamore Networks, Inc. (OTCMKTS:SCMR), reporting ownership of 2.75 million shares, which represent  9.5% of the company’s common stock.

 

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Sycamore Networks, Inc. (OTCMKTS:SCMR), supplies packet/optical switching and aggregation, 00G+ optical transport, and SDN-enabled service management and control solutions to Tier 1 service across the globe. In June 2013, Sycamore Networks, Inc merged with Coriant America Inc.

The stock of the micro-cap Sycamore Networks dropped by almost 80% during the past year.

Coriant America Inc., announced in December, that Brazil based company, Telefónica Vivo, has picked Coriant’s hiT 7300, hiT 7100, TNMS and other support services in order to expand its network and boost capacity in its optical backbone network. Earlier, in November, Copel Telecom a wholly owned subsidiary of the Companhia Paranaense de Energia had selected Coriant’s 100G transmission technology to raise the speed and performance of its fiber optic backbone network.

Farallon Capital Management, founded by Thomas Steyer, holds a significant stake in Dell Inc. (NASDAQ:DELL), in which it owns 26.81 million shares, with a reported value of $369.13 million, the position amassing over 7% of its equity portfolio. The second largest holding of the fund is Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX), the stake amassing 2.02 million shares, worth $251.83 million. The fund has increased its stake in Onyx Pharmaceuticals by 3132% during the third quarter of 2013. In Hudson Pacific Properties Inc (NYSE:HPP), Farallon holds, the fund holds 12.23 million shares, with a value of $237.95 million, the position amassing around 4% of the fund’s equity portfolio.

Disclosure: none

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