Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: LJM who wrote (1244)	6/29/1999 11:05:00 AM
From: Beltropolis Boy	Read Replies (1) of 15615

U S West sets proration figure for Global Crossing June 28, 1999 11:42 PM DENVER, June 28 (Reuters) - U S West Inc (USW), the Baby Bell weighing two takeover offers, said on Monday the final proration figure under its tender offer for 39,259,305 shares of Global Crossing Ltd. (GBLX) is 18.128106 percent. U S West's cash tender offer to buy about 39.3 million Global Crossing's shares at $62.75 a share was oversubscribed. About 216.7 million shares were tendered or about 177.4 million more than U S West offered to purchase. The local phone company said the 18.128106 percent figure was determined by the Bank of New York Depository. Accordingly, U S West said it has instructed the Depositary to begin making payment for shares accepted under the tender offer. U S West agreed to buy the 9.5 percent stake in Global Crossing in May, when the two companies announced their proposed $30 billion merger agreement. The company has since received an unsolicited offer from Qwest Communications.

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