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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: Madharry who wrote (2015)9/21/1999 6:38:00 PM
From: M. Charles Swope  Read Replies (2) of 15615
 
Armin,

I'm going to guess that FRO stays in the S&P 500 until the merger is completed. Does anyone else have better information on this question?

I notice the spread between FRO and GBLX is still more than $3.00 (i.e., 2.05 shares of FRO are $3.00+ more than 1 share of GBLX). With the shareholder meetings just days from now and with the FCC already having approved the merger, why such a spread?

My conjecture is that the GBLX price is being depressed by heavy selling of GBLX to book tax losses and buy back via FRO. That's not original with me but it seems to make sense.

Charlie
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