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Technology Stocks : XO Holdings, Inc. (XOHO - XO Communications)

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From: tech101	9/28/2009 1:18:42 PM
	1 Recommendation of 615

XO Holdings' Special Committee Responds to ACF Industries Holding's Proposal Sep 28, 2009 08:00 ET HERNDON, VA--(Marketwire - September 28, 2009) - The special committee of the Board of Directors of XO Holdings, Inc. (OTCBB: XOHO) today announced that it has unanimously concluded that the proposal of ACF Industries Holding Corp., an affiliate of Carl C. Icahn and holder of a majority of the shares of XO Holdings' common stock, to purchase all of the shares of XO Holdings' common stock not currently held by ACF at a price of $0.55 per share substantially undervalues the company, and, therefore, the special committee does not support the proposal. The special committee communicated to Mr. Icahn that it would consider a proposal that recognizes the full value of the company and reflects the significant benefits that would accrue to ACF as a result of full ownership.

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