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Technology Stocks : InfoSpace (INSP): Where GNET went!
INSP 119.16-8.7%3:59 PM EST
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To: The O who wrote (20532)8/3/2000 5:10:22 PM
From: Hawkmoon   of 28311
 
Is there any way to stop this deal given the support of Russ and PA?

Only if the other 60% of the companies shareholders vote no on their proxies, which is quite unlikely since most don't bother to return their proxies at all.

Besides, refusing the deal would cost GNET $120 million in break up fees, grievously depleting the company's cash position.

The only way that I'm aware of getting out of this deal would be for GNET to discover some impropriety on the part of INSP, either in their having misrepresented their fundamentals and/or business operations, or with regard to accounting "errors" that drastically alter the worth of INSP shares.

I haven't read the 8K merger agreement all the way through, but I suspect that whether or not such a contingency were stated as a justifiable cause for GNET pulling out without a penalty, a civil court would probably rule in our favor.

Of course, that's all dependent upon someone closely scrutinizing INSP's books and discovering something amiss that wasn't disclosed to GNET before the merger was agreed to.

I wonder if Jain still doesn't care about his stock price (as mentioned in recent articles)?

I know I do.

But most of all, I'm curious to know if he is descended from a family of "skyclads", as suggested by his name.

Regards,

Ron

PS: sorry about the triple post... editing glitch.
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