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

To: Raymond Duray who wrote (1133)	6/13/1999 6:30:00 PM
From: Tony Wang	Respond to of 15615

Wow! This should help GBLX big time. A) non-merger fee of $850 mill to be paid to GBLX in that event. B) Guranteed bid for 9.5% of GBLX stock at 62.50 regardless of what happens. C) All the Wall ST. arbitrage houses are short GBLX and long USWest will now have to buy back in the open market GBLX. Remember, these guys pushed it down on the news from 61 to 44. Oh boy, I hate to be short GBLX this week. PS: the inside scoop was that GBLX was waiting for a graceful exit anyway; so they are not going to bid higher. Their board of directors were not happy with the trouncing of their stock after the initail merger anouncement. I guess equilibrium is about $62.50 right where it was before all of this corporate machinations. If I can buy at 51 on the open, it will be a boon. But I don't think so.

To: Raymond Duray who wrote (1133)	6/13/1999 7:21:00 PM
From: lazarre	Respond to of 15615

kind of reminds me of the days of Bendix ( who can remember that company? ) and the machinations of the CEO who attempted to consume that company only to be consumed by Martin Marietta days later ( or something like that ). Believe his name began with an A. A woman was involved ( so what else is new? ). GBLX , imo, will not be bought out in the near term. But if they lose USWEST ( a semi-disappointment ) and, god forbid, FRO, they will be. Not now; not in 6 months but within 18 months. Uh, so what if the share price accelerates in the interim. L