USW - Bell of the Ball - Forbes article: forbes.com
today's developements, that FRO will talk to QWST is huger. It is the beginning of the end for GBLS, though i think there will be another round of bidding war between GBLX and QWST for both FRO and USW. FRO is the chink in the armor for GBLX to get USW. As i understand it, without FRO, the GBLX deal for USW is a no-go.
Also readi in today's WSJ about Trujillo, the CEO of USW. He is a long-time employee of USW, has vision, and is promised a major role in the new GBLX-USW-FRO organization, co-ceo I believe. hmmm. But FRO's board of directors are under fiscal responsibility to get the best deal for their shareholders, and the QWST deal is a better deal. Once a stock is in play, once it has put itself up for sale, the burden of fiscal responsibility becames much greater. Therefore, FRO's being in play is significant, as is their agreeing to talk with QWST.
USW, however, has not really put itself up for sale. The USW-GBLX thing is being billed as a merger of equals, not as a take-over. That is why USW bought GBLX stock at 62.75. Bottom of the fourth, GBLX 3-QWST 2, but QWST has bases loaded, 1 out, and their big gun at the plate. Larry |
