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Technology Stocks : Qwest Communications (Q) (formerly QWST)
Q 85.10+0.9%Dec 9 3:59 PM EST
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To: Alejandro who wrote (1344)5/29/1998 4:00:00 PM
From: David Lawrence   of 6846
 
>>Wonder if LCI will back out.

It'll have to drop a lot more for that to happen.

"The actual number of shares of Qwest common stock to be exchanged for each LCI share will be determined by dividing $42 by a 15-day volume weighted average of trading prices for Qwest common stock prior to the closing, but will not be less than 1.0625 shares (if Qwest's average stock price exceeds $39.53) or more than 1.5583 shares (if Qwest's average stock price is less than $26.95). If Qwest's average stock price is less than $26.95, LCI may terminate the merger unless Qwest then agrees to exchange for each share of LCI the number of Qwest shares determined by dividing $42 by such average price."

As an LCI holder, I'm trying to figure out how to play this. Is the drop in price caused by arbitrage activity? Is the deal going sour? Any ideas?
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