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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: alburk who wrote (4498)1/31/1999 12:53:00 PM
From: Chuzzlewit  Respond to of 4509
 
Andrew, there are two classes of shares, A and B. PSFT shareholders have the 'A' shares, while the B shares are retained by PSFT. That way, according to an article in the NY Times, they can avoid MMTM being treated as a subsidiary in consolidated financial statements. The arrangement effectively bars MMTM from acting like an independent company. It cannot merge, liquidate, transfer assets etc., without PSFT's consent. That was the point of the spin off.

TTFN,
CTC


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