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


To: John Carragher who wrote (1145)6/13/1999 8:58:00 PM
From: isdsms  Read Replies (2) | Respond to of 15615
 
The tender offer would remain in affect. If gblx had a run past 62.75, then it would make sense to backout.



To: John Carragher who wrote (1145)6/13/1999 9:14:00 PM
From: Daskin  Respond to of 15615
 
On page 7 of the tender offer manual, 4. Withdrawal Rights.

4. Withdrawal Rights
Except as otherwise provided in this Section 4 or as provided by applicable law, tenders of shares made to the offer are irrevocable. Shares tendered pursuant to the offer may be withdrawn at any time prior to the Expiration Date and, unless therefore accepted for payment pursuant to the Offer, may also be withdrawn at any time after July 19, 1999. ...etc.

Suppose we should be able to withdraw it before June 18, 1999, the expiration date. Correct me if I read it wrong. Thanks!



To: John Carragher who wrote (1145)6/13/1999 9:25:00 PM
From: jerryriti  Respond to of 15615
 
<once tendered a done deal>

Don't set your watch by my reply, but I assume that one can withdraw their tender up until the expiration date. Also, do not have access to the offering at this time, but I believe USW could continue the offer without the other elements of the deal being concluded. You will have to check with your broker and/or the information agents listed on the back of the offerings for the final answer. Perhaps, the information agent is your best bet! I am convinced that withdrawal is possible until the expiration date, but would not bet the ranch on my assumption. I will have more answers by days end tomorrow!