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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Teddy who wrote (513)3/20/1999 4:01:00 PM
From: thebeach  Read Replies (1) | Respond to of 15615
 
Thanks alot for the insightful post,but I still think a cash offer should have no strings attached,period.



To: Teddy who wrote (513)3/21/1999 7:45:00 PM
From: W. Luther  Respond to of 15615
 
Of course the arbs will short GBLX and go long FRO: that is what they do in any merger.

but it doesn't always work out...just ask the "rocket scientists" at LTCM about their long CIEN/short TLAB strategy last summer!!



To: Teddy who wrote (513)3/29/1999 8:12:00 PM
From: Minnow  Read Replies (1) | Respond to of 15615
 
TEDDY: Why short GBLX and go long Fro?

..."Of course the arbs will short GBLX and go long FRO: that is what they do in any merger."

Is this your strategy? Why? I could see it if GBLX were trading above the collar and FRO at a discount to the 1.0919 factor, then you would lock in the spread. But inside the collar if GBLX goes up you get fewer shares back at conversion time to cover your short position. Thanks for all the good info.

Minnow


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