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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: Teddy who wrote (1317)7/12/1999 9:18:00 PM
From: Teddy  Read Replies (1) of 15615
 
Here's a berry berry interesting little monkey wrench that i found in the S4. Seems Master Deal Maker Gary Winnick is a couple of steps above the untrained amateures that think they can break the deal.

This is mentioned several times, i am copying from page 104 (that's all i'm reading for tonight) (bold added for dramatic effect)

Related Agreements

Stock option agreement

General

Frontier and Global Crossing have entered into a stock option agreement
giving Global Crossing the right to acquire shares of Frontier. The stock
option agreement may prevent a third party from completing a pooling of
interests transaction with Frontier and would make alternative transactions,
including a merger with another company, significantly more expensive than
would otherwise be the case. Accordingly, the stock option agreement may
discourage third parties from proposing alternative transactions that may be
more advantageous than the merger for Frontier shareholders.

The stock option agreement gives Global Crossing an option to purchase
shares of Frontier common stock at an exercise price of $62.00 per share. The
maximum number of shares that Global Crossing may purchase under the option is
19.9% of the shares of Frontier common stock outstanding at the time of
exercise. Based on the number of shares outstanding on the date of the merger
agreement, the option allows Global Crossing to purchase 34,291,944 shares.

We have attached the stock option agreement to this document as Annex B. We
urge you to read the full text of the stock option agreement.

Should be an interesting week:
biz.yahoo.com
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