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The Deal: Shares Technologies Fairchild has agreed to be acquired by Intermedia Communications for $15/ share. The deal, which totals $366 million in cash for the equity, terminates an earlier agreement which called for Tel-Save Holdings to acquire Shared Technologies for $11.25/ share, plus the assumption of debt (see CGR #956). Intermedia has agreed to pay $237 million to Tel-Save, including $174 million for the purchase of certain Shared Technologies debt securities, accrued interest and breakup fees. Additionally, Intermedia has dropped its lawsuit protesting the agreement between Shared Technologies and Tel-Save. On the news, Intermedia rose $5, or 12%, to $46.75, while Shared Technologies were up 43.75, or 3.1%, at $14.625/ share.