This sounds familar with all of us at MCI... we merged with Worldcom, with
Worldcom buying MCI with stock... even though they are smaller... There is
an internal (otherwise I'd post the URL) which depicts Worldcom as the Borg,
"you will be assimilated" with all the names of companies that Worldcom has
bought out or merged with.
But I've been happy so far with the merger- Stock is WAAAAY up (stock I
bought at $43 was converted to ~1.25 shares of the new stock, which is
around $72 today, all within 6 months!!!) The 401k is a stronger package,
and we lost ESPP (employee stock purchase plan) but gain 1200 stock options
(no word on strike price yet). They did take away our free selection of
teas and cocoa in the break rooms, though :-(
Dak content: if the overall package at DC is as good as what we've seen so
far from MCIWorldcom, they'll be building better trucks off the line...
Gary Shook
>Smaller companies buy larger ones every day; ain't capitalism grand.
>Eaton and co made most of the $$$s out of options, which is a great way
>to structure the deal to ensure that the shareholder is looked after. If
>the new company tanks, then Eaton and co get less. If it takes off like
>a rocket, then Eaton and co make more. Good way to motivate the execs so
>things go well. The only relevant issue is did the shareholders (who
>approved the deal) get a fair shake. As of last week the new stock was
>up nicely.
>
>Craig
>
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