Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: quidditch who wrote (2549)	10/11/1999 1:26:00 PM
From: PaperChase	Read Replies (4) of 15615

I question GBLX overpaying for its acquisitions. It overpaid somewhat for FRO and that was tolerable somewhat but they really over did it with the Racal deal. A competing bidder was only willing to pay 750 million pounds max and along comes GBLX and drops 1 billion pounds without debating the price too much. The money (ie your shares) are being used too freely. It can be likened to going into a car dealer and paying the inflated sticker price + 25%. From Reuters today: "The Bermuda-based group outwitted Britain's Energis at the 11th hour by offering 950 million pounds in cash and agreeing to assume debts worth 50 million pounds of the telecom arm of Racal Electronics Plc (quote from Yahoo! UK & Ireland: RCAL.L). The price was around 300 million pounds more than most expectations. Gonna take some quick profit along with the some others.

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