Aug, 2001 : Cable & Wireless Completes Acquisition of Digital Island

📅 August 31, 2001 - Cable and Wireless plc (cwplc.com)and Digital Island, Inc. (digitalisland.com) announcedtoday the successful completion of the previouslyannounced merger of Digital Island and DaliAcquisition Corp., a wholly owned subsidiary of Cable& Wireless. Upon completion of the merger, DigitalIsland became a wholly owned subsidiary of Cable &Wireless.

As a result of the merger, outstanding shares ofDigital Island common stock have been converted intothe right to receive US$3.40 per share in cash,without interest, subject to the exercise bystockholders of appraisal rights under applicable law.Cable & Wireless will cause to be sent to stockholdersof Digital Island who did not tender their shares inthe tender offer, representing 15.9 per cent of theshare capital of Digital Island, instructions as tohow to exchange their certificates formerlyrepresenting shares of Digital Island common stock forthe per share merger consideration.
Cable & Wireless assumed control of Digital Island onJune 19, 2001 and began consolidating its results asof that date.

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