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Technology Stocks : Excel Communications
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To: Fredman who wrote (2793)10/30/1998 4:04:00 AM
From: J. Brent Reeves  Read Replies (1) of 2806
 
Fred, there is no fixed price here. An ECI shareholder will receive .885 shares of TGO for every share of ECI he owns. Price does not come into play in this transaction. If you own 1000 shares of ECI, on the day the merger completes you will own 885 shares of TGO. Are you clear on this now? The price that TGO closes at on that day will be determined by the market, just like every other day.

--JBR--
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