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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?

To: Smart_Money who wrote (2068)	1/17/2001 3:23:24 PM
From: robsiv	Respond to of 6445

14:57 ET Rumor Mill : Traders discussing rumor than Bellsouth (BLS 44 3/16 +1/8) is interested in making a run at WorldCom (WCOM 22 +11/16) at a price in the low-$30s. Though people talking about a deal, does not mean that it is true. In this case, not finding many traders who find rumor credible. 14:37 ET Intermedia Comms (ICIX) 16 5/16 +7/8 (+5.7%): WorldCom (WCOM) receives FCC approval for purchase of ICIX. ********************* The actual number of WorldCom common shares to be exchanged for each Intermedia common share (the “Exchange Ratio”) will be determined based on the average trading prices prior to the closing, but will not be less than 0.8904 shares (if WorldCom’s average stock price exceeds $43.80) or more than 1.1872 shares (if WorldCom’s average stock price is less than $32.85). However, in the event the Exchange Ratio is higher than 1.0685, WorldCom may elect to pay the difference between the Exchange Ratio and 1.0685 in cash, rather than additional WorldCom Stock. The total value of the transaction is approximately $6 billion ($3 billion in equity and $3 billion in debt and preferred stock). The merger will be tax-free to shareholders and accounted for as a purchase.