Cox Enterprises Announces STRYPES Intentions.ATLANTA--(BUSINESS WIRE)--April 29, 1999-- Cox Enterprises Cox Enterprises is the successor to the publishing company founded in Dayton, Ohio, by James Middleton Cox, who began with the Dayton Daily News. The company is private, 98% controlled by the octogenarian daughter of Cox, Anne Cox Chambers, and the two children of her late , Inc. announced today that it has informed Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co., Inc. that it currently intends to settle in cash its obligations to Merrill Lynch under its STRYPES agreement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Merrill Lynch's 6% STRYPES due June 1, 1999. In a 1996 offering, Merrill Lynch sold 9,755,000 STRYPES which are payable with a specified number of shares of Class A Common Stock of Cox Communications, Inc., or cash with an equal value. Cox Enterprises reserves the right to amend this decision. However, it is required to make a final decision on or before May 20, 1999 as to whether it will settle the STRYPES agreement with cash or stock. Merrill Lynch is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. under the STRYPES agreement to deliver to STRYPES holders at maturity the same form of consideration it receives from Cox Enterprises. A notice reflecting the final decision will be published in The Wall Street Journal. |
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