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Stocks T / TyCom, Ltd.


Subject:  proxy Date:  11/24/2001  2:08 PM
Author:  prime13 Number:  120 of 136

I got my proxy statement today. I suppose it is a legal necessity but I don't know if I have ever seen a vote that was in such little doubt. Quoting from the front page letter:

"Tyco, through TGN Holdings, currently owns approximately 89% of TyCom's outstanding shares and has agreed to vote its TyCom common shares in favor of approval of the amalgamation agreement."

I doubt that my shares will have much of an impact on the election here.

Anyway, I was surprised to see that the amalgamation will be a taxable exchange. See page 34 of the proxy. Right now TyCom is trading at about my average basis for it so it won't effect me much. However I guess that I will be hoping that Tyco's price drops, or at least doesn't go up much between now and the exchange to save a bit on taxes. Maybe we can get Tyce to help us here. ;-)

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