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Technology Stocks : Intermedia Communications ICIX
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To: Rubble who wrote (304)4/6/2001 11:54:11 AM
From: robsiv  Read Replies (2) of 313
 
I agree and disagree with you, Rubble. I don't think arbs are that much more familiar with what's going on in the court: witness how many of them got slammed the last time ICIX/DIGX/WCOM went to court. The court ruling today is just a rubber stamp on an agreement; the real problem is the possibility of an appeal by one or more party which could drag this thing on, which arbs could possibly have more information on than us little investors. If there is an appeal, the deal deadline gets extended to Sept. 30; if it's not worked out by then, WCOM is free to walk.
The interesting point about this deal is how the spread started to widen and the rumors started about it falling apart happened the same day the Tyson deal fell through. The news that the deal would now close in June was released on Tuesday yet the rumor didn't start in full until Friday, after the Tyson deal fell through. Since then, WCOM has reiterated that DIGX is central to its strategy (in its S-4/A) but apparently that didn't convince many.
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