jhg,
My take is that Unicom was being dropped from the S&P primarily because of the acquisition of UCM by PE (also a member of the S&P), creating the new entity EXC (which would now become a member of the S&P), and this was to become effective on the date of the acquisition. So, both UCM and PE would cease to exist as such, but the new combined entity EXC would become part of the S&P, thus creating one open spot.
biz.yahoo.com
biz.yahoo.com
Now, for whatever reason, the finalization of the merger has been delayed, and so with it, the "replacement" of UCM with PWER, since there is not an open spot until the merger takes place. The confusion arises, I think, out of the fact that nobody is being dropped from the S&P, so actually there is no "replacement" at all. Just a sort of condensation and addition.
Regards,
WS |
