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Technology Stocks : Nortel Networks (NT)
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To: OrionX who wrote (4472)1/26/2000 11:50:00 PM
From: Master (Hijacked)   of 14638
 
Orion, the deal is quite simple although somewhat confusing.

1) A new stock will be created....let's call it NTX

2) NT shareholders will get 1 share of NTX for each share of NT they hold...for example, if you own 100 shares of NT, those shares will be replaced by 100 shares of NTX

3) BCE shareholders will get two things...(i) they get 78 shares of NTX for every 100 shares of BCE they own....(ii) they also get to keep their BCE shares.....

for every 100 BCE (BCE shareholders will therefore have 100 shares of BCE + 78 shres of NTX)

a) The transfer of these shares will take place at some future date which will be established upon signing of the agreement.

b) All shareholders will be affected by the transfer.

c) After the transfer, the value of BCE will drop by the value of NT (at time of transfer). It will be based on the proportional value of all of BCE's other holdings.

d) In theory, the benefit to shareholders remains the same:

for example:

100 shares of NT = 100 shares of NTX
100 shares of BCE = 78 Shares of NTX + 100 shares of BCE (minus value of NT at time of transfer)
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