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Strategies & Market Trends : The Amateur Traders Corner -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (4256)	12/14/2000 3:25:58 PM
From: Triffin	Read Replies (1) \| Respond to of 19633

Tom .. WCOM/ICIX Found this .. The boards of WorldCom, Intermedia and Digex approved the deal on Sept. 1. Under the terms of the agreement, each share of Intermedia common stock will be exchanged for $39 of WorldCom common stock, subject to a collar. Each share of Intermedia preferred stock will receive WorldCom preferred shares with terms "essentially identical" to the Intermedia preferred shares, according to the companies. The actual number of WorldCom common shares to be exchanged for Intermedia common shares will be based on the average trading prices prior to the closing with the caveat that it will not be less than 0.8904 shares (should Worldcom's average stock price exceed $43.80) or more than 1.1872 shares (if WorldCom's average stock price falls below $32.85). If the exchange ratio is higher than 1.0685, WorldCom has reserved the right to pay the difference between the exchange ratio and 1.0685 in cash. Unless I'm reading this wrong .. WCOM has to pony up $39.00 per ICIX share .. Isn't ICIX's price telling us that WCOM will walk on this deal ??? Jim in CT .. Long a little ICIX pending more DD ..