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Technology Stocks : ITXC
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To: Dirk who started this subject5/20/2003 10:43:03 PM
From: Frank A. Coluccio   of 987
 
IDT and ITXC Terminate Merger Discussions
Previously announced discussions concerning a possible combination of IDT Corporation and ITXC have been terminated. No agreement was reached.
idttelecom.com
20-May-03

On 10-April-2003, IDT publicly announced a proposal to acquire ITXC Corp. in a stock-for-stock transaction that would provide a 15% premium to the stockholders of ITXC, based on the closing price of ITXC's stock on the previous day. ITXC rejected the offer. The companies subsequently agreed to discussions.
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