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Technology Stocks : BLUE WAVE SYSTEMS-BWSI A comer in telecom
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To: Christopher Brainard who wrote (159)3/31/2001 11:11:14 AM
From: jbkelle   of 170
 
Chris, Looks like you played it right and understand the sale/purchase details correctly. I was wondering about the details but hadn't had an opportunity to look 'em up. The following is from the PR released by BWSI. I'm still holding about 5000 shares...Best to you and the thread. jbk

Motorola will exchange approximately 6.5 million common shares for the fully diluted common shares of Blue Wave, which is expected to have a total value between $135 million and $165 million. Each Blue Wave share will be exchanged for .3947 shares of Motorola common stock, provided that the average closing price for a share of Motorola common stock is less than or equal to $25.38 based on a twenty trading day average. If the average Motorola price per share is greater than $25.38, then the exchange ratio will be determined by dividing $10.02 by the average Motorola price per share as described above. If the average Motorola price per share is less than $20.77, then Blue Wave may exit the transaction without penalty unless Motorola agrees to issue additional shares to increase the transaction value to $135 million. Motorola also intends to roll over existing employee stock options into Motorola options based on the final exchange ratio. The merger, which was approved by the boards of both companies, is intended to be a tax-free reorganization. The acquisition will be accounted for as a purchase and is expected to be completed in the second quarter of 2001.

biz.yahoo.com
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