Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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 : C-Cube -- Ignore unavailable to you. Want to Upgrade?

To: Black-Scholes who wrote (43461)	7/30/1999 5:56:00 PM
From: John Rieman	Respond to of 50808

A Corporation can't buy back shares for 24 months. CSCO and other acquisitive companies have suspended buy back programs.............. cfonet.com While the merits of pooling have been debated for almost 30 years, the latest round began when the SEC killed a major pooling deal a year ago--the $10 billion bid for First Interstate Bancorp, of Los Angeles, by First Bank System Inc., of Minneapolis. The culprit? FBS's announced intent to buy back shares as part of its offer--a violation of 1 of the 12 conditions of a pooling laid out in APB 16. To strengthen the FBS ruling, the SEC issued Staff Accounting Bulletin 96 in March 1996, further restricting a pooler's ability to make major stock repurchases for up to 24 months around any pooling transaction. In response, many companies, including Cisco Systems Inc. and Gillette, canceled announced buyback plans to preserve their ability to pool.