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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: SecularBull who wrote (756)	4/6/1998 1:38:00 PM
From: Nash	Read Replies (1) \| Respond to of 3873

Maybe I forgot how to read and interpret prose WITH PUNCTUATIONS, but I believe the press release describes a transaction whereby LVLT is paying for XCOM with 2.6 million shares of LVLT stock. Nobody is guaranteeing the per share price of LVLT in order to consummate this deal. Isn't that what they mean when they say the deal has "no collars"? Using Friday's closing price as a barometer, the transaction would be worth a littele over 162 million dollars. Of course if the stock is $100 when the merger closes, the deal is worth 260 million, if the stock is $50 the deal is worth 130 million. My guess is that the number will be somewhere in between. It seems that XCOM owners must be bullish on LVLT to do a "no collars" deal. What do we know about them?