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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: The Reaper who wrote (12125)6/20/2001 5:10:04 PM
From: gruetz  Read Replies (1) of 15615
 
If Hancock or Casey felt that EXDS had a near-term risk of bankruptcy, why wouldn't they have entertained Cable & Wireless's overtures a few weeks ago?

If EXDS were allowed to go into bankruptcy, what assurance would GX have that they would get the EXDS assets? I would think cash rich telecoms would be able to bid a higher price for those assets than GX could or would.

Seems to me the best course of action would be for GX to make an equity cash infusion into EXDS taking their ownership position up significantly. At today's EXDS price, a $1 bln equity infusion would take GX's stake in EXDS up to about 60%. Casey & Winnick would have to decide whether the $1 bln would be better spent on EXDS or expanding their global network.
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