Speculating in Takeover Targets Message Board

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Strategies & Market Trends : Speculating in Takeover Targets

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To: richardred who wrote (36)	7/29/2003 11:49:06 PM
From: Joseph Silent	Read Replies (1) of 7265

Richard, I have two questions. Assume that (1) the court approves WCOM's offer, and (2) the Digex BOD also approves the offer and recommends that the minority shareholders sell to WCOM at 70 cents per share. I understand that WCOM will start to pay 70 cents for each share. 1. What happens if I just hold on to my shares past the deadline? Say I just refuse to sell. What would be the outcome? 2. WCOM needs 90% of all the shares for the merger to go through (someone posted this about Delaware law, and the SEC documents also say it). There is a large shareholder (called David Greene and Co, a quiet, successful value outfit) who owns around that 10% mark, and I'm guessing more. This one shareholder can make things rough for WCOM. Do you think something like this can cause price to go up? I appreciate your time and thoughts. /JS

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