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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Quonnie who wrote (1094)	6/7/1999 4:46:00 PM
From: MangoBoy	Read Replies (1) \| Respond to of 15615

<< He received a letter from Charles Schwab asking him to sell his shares to US WEst for $62.50 >> The letter didn't ask your friend to sell; it just explained the tender offer and what steps to follow if interested.

To: Quonnie who wrote (1094)	6/7/1999 9:02:00 PM
From: Teddy	Read Replies (1) \| Respond to of 15615

hi Quonnie, There are more than a few post on the US West tender, I just want to make clear, in case you didn't notice, that they are only buying 9.5% of the total shares. If your friend (or anyone) accepts the offer, not all of their shares will be bought. From the 8-K Q&A 4, "... Global Crossing shareholders will be able to sell at least 17% of their holding in the tender, if they desire..." The actual percentage will be higher because some people (me, for example) are not going to offer any shares for $62.75, but I doubt that it would be over 30%. (You get $62.75 for whatever percentage they buy and the remaining shares stay in your account.) I get the impression that your friend originally had planned to hold the stock for the long term or owns a relatively small position. There are, of course, several things that each person should consider when making the decision to participate or not in the tender offer including: tax consequences, risk tolerance and place the stock holds in one's total investment strategy... I would suggest, at a minimum, your friend get up to date with what the company is doing. (Recent news is available on the company's web site: globalcrossing.com ) and take a look at the super top secret income projections hidden on page 13 of the document (that your friend should have received along with the "Request for Instructions") titled "Offer to Purchase for Cash 39,259,305 of the Outstanding shares of common Stock of Global Crossing Ltd. at $62.75...." Then again, he could just send in the form an see what happens. <G>