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Pastimes : Discuss Go2Net's acquisition of our beloved SI
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To: MENSO who wrote (69)4/24/1998 12:05:00 AM
From: Intrepid1  Read Replies (1) of 446
 
At the end of the day, but not accounting for stock option dilution, the Dryers will control approx 22% of GNET. Horowitz et al will control approx 30% of GNET. According to GNET's SEC filings there is an overhang of 1.5 million stock options.

If I was the Dryers I would negotiate for control over at least 22% of the stock options as well.

Being the second largest shareholder the Dryers have significant clout over the affairs of the company. How much control they maintain over GNET is dependent entirely on how they and their financial advisors have structured this deal. I believe the Dryers walked in to this deal with their eyes wide open, and they most likely negotiated very good terms for themselves.

Given that many of us here on Silicon Investor will also be shareholders in GNET, I think it is safe to assume that the Dryers will still control S.I.

purething
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