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Short Take: Stop, swap stock, and merge

VTEL and Compression Labs (CLI), both videoconferencing companies, announced that their respective boards of directors have unanimously approved an agreement to merge the companies in an exchange of VTEL common stock for CLI stock. The transaction is valued at $80 million, and the new company will keep the VTEL name and have an annual revenue of $200 million.

By January 7, 1997