IIXC's recent activity......dated May 20.
www1.newsalert.com
a quote from above story on rise in WRDP due to buyout speculation:
"According to Sands Brothers analyst Alan Feldman, 'WorldPort is a premier takeover target.' Feldman currently rates WorldPort a buy with a $20 target and said he believes the company could be sold to likely suitors that may be looking to enter or expand their presence in Europe including IXC (Nasdaq:IIXC), ICG Communications (Nasdaq:ICGX), Intermedia Communications (Nasdaq:ICIX), STAR Telecommunications (Nasdaq:STRX), and Global TeleSystems Group Inc. (Nasdaq:GTSG)." NOTICE WHO IS NAMED AS ONE of SEVERAL LIKELY SUITORS. Interesting.
This a bit older, but for review re: relationship with DCI.
ixc-comm.net
3rd & 5th paragraphs from above link: "AUSTIN, TX -- December 7, 1998......DCI has agreed to issue approximately 13% of its stock to IXC (4.25 million shares) with a market value of approximately $16 million based on the closing price at December 4, 1998. In exchange for the DCI stock, IXC has canceled amounts owed by the debit card provider of approximately $18 million. IXC estimates that the total negative pre-tax impact of this event on the fourth quarter (net of reserves) will be $14 million. The number of shares of DCI stock held by IXC is subject to adjustment if the DCI stock price changes.
Under the agreements, DCI has a call option to repurchase the 4.25 million shares of its stock from IXC through April 1, 1999 at a price of approximately $18 million. In the event the call option is not exercised, there will be an adjustment to the number of shares owned by IXC on June 1, 1999 if the 15-day volume-weighted average price for the shares is outside of the range of $4.20 to $5.88. After the adjustment, if any, IXC will own shares of DCI with a minimum value of approximately $18 million (if the price is below the range) and a maximum value of $22 million (if the price is above the range)."
Where does that leave us now?
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