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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (24333)	3/26/2001 7:27:03 PM
From: Sergio H	Read Replies (2) \| Respond to of 29382

Tomorrow's WSJ is breaking a story of GM selling off GMH. Should be interesting. GM has been heavily accumulated over the past few weeks. Lots of large block buys. This deal could spill over and scoop other satellite stocks into play, SPOT in particular. Here's the poop: March 27, 2001 -------------------------------------------------------------------------------- Luxembourg Satellite Firm to Acquire GE Unit for $5 Billion in Cash, Stock By ANDY PASZTOR, NIKHIL DEOGUN and MATT MURRAY Staff Reporters of THE WALL STREET JOURNAL Societe Europeenne des Satellites SA of Luxembourg, long unable to penetrate the U.S. satellite market on its own, is wrapping up a deal to acquire General Electric Co.'s satellite-services unit for $5 billion in cash and stock, according to people familiar with the situation. While the boards of GE and SES had approved a deal in principle, lawyers for the two sides were continuing to negotiate last-minute details. As a result, people familiar with the discussions warned that some sticking points could delay or even unravel the agreement. But given that the two sides have resolved the major issues, including price and structure, a deal should be announced within a week, these people said. For SES, already a leading European satellite broadcaster with expanding footholds in both Asia and Latin America, the proposed transaction provides two things it has long sought: It would snare an established platform in the U.S. from which to pursue the mushrooming Internet-access and data-transmission segments of the business. And under the terms being finalized, SES plans to list the merged company in the U.S. through a public offering around the time the deal closes. Boards of the two companies have approved the proposed transaction, according to these people, and the Luxembourg government, which owns 20% of SES, indicated Monday that an agreement was in place