biznatch11
join:2004-11-21
London, ON | reply to rit56
Re: how much stock?
I'm also confused by this. If they'll own 60% then aren't they actually buying rather then selling? |
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daslog
join:2002-04-10
Milford, NH | Verizon shareholders get Fairpoint stock not Verizon itself. So if you own 20 shares of Verizon, you will be issued Fairpoint stock as part of the spinoff. |
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LD 50
join:2000-08-28
Milford, NH
clubs: | reply to biznatch11
VZ will not own the shares, VZ shareholders are getting the shares. |
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wev567
join:2006-02-25
Pittsburgh, PA | reply to daslog
Actually, it's 1 share of Fairpoint for every 55 Verizon shares. For some people, barely worth the commission to dump it. |
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hottboiinnc
ME
join:2003-10-15
Cleveland, OH
 ·Time Warner Cable
·buckeye cable
| This is not true according to Fairpoint's Website.
"Verizon's local exchange and related business assets in Maine, New Hampshire and Vermont will be transferred to entities owned by a newly organized, wholly owned subsidiary of Verizon." which is from the "merger" page of Fairpoint. VZ will STill OWN the company. Just not the debit. |
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GOLFnSUN
Enjoy the sun
Premium
join:2002-03-03
Avalon, NJ
 ·Sprint Mobile Broa..
·Comcast
| said by hottboiinnc  :This is not true according to Fairpoint's Website. "Verizon's local exchange and related business assets in Maine, New Hampshire and Vermont will be transferred to entities owned by a newly organized, wholly owned subsidiary of Verizon." which is from the "merger" page of Fairpoint. VZ will STill OWN the company. Just not the debit. You conveniently left out the rest of that paragraph and the next that shows the combined company won't be under Verizon control. Nice try though.
»www.fairpoint.com/merger_press_release.html
Verizon's local exchange and related business assets in Maine, New Hampshire and Vermont will be transferred to entities owned by a newly organized, wholly owned subsidiary of Verizon. This new subsidiary will incur $1.7 billion of newly issued debt and will then be spun off to Verizon's stockholders and immediately merged with and into FairPoint.
When the merger is completed, the companies conducting the Maine, New Hampshire and Vermont telephone and related business operations will be subsidiaries of FairPoint. The combined business will be managed by FairPoint's executive team.
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