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Stocks T / TyCom, Ltd.


Subject:  Re: TYC to acquire TCM Date:  11/17/2001  11:00 PM
Author:  pknoerr Number:  114 of 136


I grabbed that figure (15.42) from the original press release at the time that the final percentage was worked out. The .3133 of the Tyco price on 10-18-01 worked out to 15.42.

I'm not dead sure how the trade will be worked out.... but suspect that the actual trade will either be based on the price of Tyco on the date that the merger is closed, or it will be based on a value that Tyco averages over a given specified period..... say the 30 days prior to the closing of the deal.... Given that the press release on 10-19-01 (or any of the other releases for that matter) didn't specify any period, and didn't specify a date that the ratio will be based on... I think it will be .3133 of the trading price on the date that the merger is closed.

I've noticed that the price of TCM is mimicing the price of TYC times the multiple .3133, so this seems the most likely.

I'm sorry to confuse with my number 15.42, but I forgot the percentage when I typed the message, and could only remember that number.

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