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Technology Stocks : UNPH _ Uniphase
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To: Craig Wilson who wrote (1158)3/16/1999 8:53:00 PM
From: Chris Stovin   of 1261
 
<<Is is true that JDS Fitel and Uniphase shareholders will each own one share of the new JDS Uniphase for each share they hold of either company? If this is so, doesn't it make sense to buy JDS Fitel now at $74.80 compared to Uniphase at $99 5/8?

Am I missing something? (Like JDS Fitel owners only get one-half a share of the new company?>>

Craig, it's .50855 shares of the new company. An excerpt from the news release announcing the merger of equals appears below.

Cheers!

Chris

Under the terms of the agreement, JDS FITEL shareholders resident in Canada will, pursuant to a plan of arrangement, be entitled to receive 0.50855 shares of exchangeable stock of JDS Uniphase Canada, a wholly owned subsidiary of JDS Uniphase, or, at their option, 0.50855 shares of JDS Uniphase, for each JDS FITEL share they hold. The exchangeable shares are the economic and voting equivalent of shares of common stock of JDS Uniphase and will be exchangeable for such shares on a one-for-one basis at any time. The current shareholders of JDS FITEL and Uniphase will each own approximately 50 percent of the combined company following the merger. The structure of the transaction is expected to provide the opportunity for a tax-free exchange for Canadian holders of JDS FITEL stock.
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