Oh well...
... so much for a substantial price move from the gorgeous setup and pattern. The following news item, which helps explain the large block activity during Friday's trading, is from Briefing.com...
NTL Incorporated/NTLI and Telewest/TLWT announced today a definitive merger agreement under which NTLI will acquire TLWT. Under the terms of the transaction, approved by the boards of both cos, TLWT shareholders will receive $16.25 in cash and 0.115 shares of NTLI stock for each common share of TLWT they own, for a total consideration currently valued at approximately $6 bln or approximately $23.93 per share. On this basis, upon completion Telewest shareholders will own approximately 25 per cent of the enlarged NTLI.
NTL Incorporated/NTLI and Telewest/TLWT announced today a definitive merger agreement under which NTLI will acquire TLWT. Under the terms of the transaction, approved by the boards of both cos, TLWT shareholders will receive $16.25 in cash and 0.115 shares of NTLI stock for each common share of TLWT they own, for a total consideration currently valued at approximately $6 bln or approximately $23.93 per share. On this basis, upon completion Telewest shareholders will own approximately 25 per cent of the enlarged NTLI.
posted by David M Gordon | 4:16 AM
<< Home