Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: Robert Sheldon who wrote (1977)	9/18/1999 12:29:00 PM
From: TechMkt	Read Replies (1) of 15615

Old story, but the bolded portion below is significant. A $500 million stock buy back is a very bullish sign. Fez ________________________ Global Crossing and Frontier Amend Merger Agreement to Increase Deal Certainty Boards and Management Reaffirm Commitment to Strategic Combination Highlights of Merger Amendments - The exchange ratio will now be fixed at 2.05 Global Crossing shares for each Frontier share. - Because of the fixed ratio, the Frontier walk-away right, as it relates to Global Crossing's stock price, has been eliminated. - Global Crossing has agreed to institute a stock repurchase program of up to $500 million promptly following the close of the merger. - Key management and inside shareholders of Global Crossing and Frontier have agreed to enter into or to extend their 'lock-up,' and not sell their shares for at least six months following the completion of the merger. The inside shareholders of Global Crossing also have agreed to create and implement an orderly disposition program thereafter if they wish to sell. - The parties are working to meet an expected closing date later this month.

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