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Technology Stocks : WCOM
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To: Anthony Wong who wrote (1868)11/12/1997 9:28:00 AM
From: JM  Read Replies (1) of 11568
 
From WCOM news release: "The actual number of shares of WorldCom common stock to be exchanged for each MCI share owned by investors in MCI other than BT will be determined by dividing $51 by the 20-day
average of the high and low sales prices for WorldCom common stock prior to the closing, but will not be less than 1.2439 shares (if WorldCom's average stock price exceeds $41) or more than 1.7586 shares (if WorldCom's average stock price is less than $29)."

The first article did not mention the fact that the exchange rate is set per the 20 day average prior to closing. It has been said that the deal will take at least 6 to 9 months to close. Who knows where WCOM stock 20 day avg. will be at the close of the deal (6-9 months out)? If I understand this, today's price is not relevant to the deal. In mean time, I would think that WCOM will do everything possible to attain the highest price possible. Two upgrades, and an article on ANS today. I would expect a blitz of positive WCOM news releases to follow.
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