SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Global Crossing - GX (formerly GBLX)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Sawtooth who wrote (1052)6/2/1999 2:15:00 PM
From: LJM  Read Replies (1) of 15615
 
From what I have read, at the time of the merger each share of GBLX and USW common stock shall be converted to Parent Class A or B common stock or a combination of both according to a pre-set conversion (defined below) and based on your election selections. The clincher is if everyone chooses one class (Global for example) this could exceed the cap, then the number of shares exceeding the cap will be reduced pro rata. I see this as the biggest problem with 2 classes of stock. Who is going to choose the USW shares??? Not me!

FWIW>>>The conversion ratio is determined by dividing the total number of shares of Global Common Stock outstanding on the date of the Merger Agreement less 39,259,305, divided by the total number of shares of USW Common Stock outstanding on the date of the Merger Agreement. For the purpose of calculating the conversion ratio above, the number of outstanding shares of Global Common STock outstanding on the date of the Merger Agreement includes the number of shares of Global Common Stock to be issued in exchange for Frontier shares according to the terms of the Global/Frontier Merger Agreement.

Now that I have read more, I may tender after all. I really do not like this idea of 2 classes of stock.

Any thoughts on this?

LJM
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News