Cable & Wireless completes acquisition of Digital Island.

0 Comments | M2 Presswire, August, 2001

M2 PRESSWIRE-31 August 2001-CABLE & WIRELESS: Cable & Wireless completes acquisition of Digital Island (C)1994-2001 M2 COMMUNICATIONS LTD RDATE:31082001 Cable and Wireless plc (LSE: CW.; NYSE: CWP) ("Cable & Wireless") and Digital Island, Inc. (NASDAQ: ISLD) ("Digital Island") announced today (31 August 2001) the successful completion of the previously announced merger of Digital Island and Dali Acquisition Corp., a wholly owned subsidiary of Cable & Wireless.

Upon completion of the merger, Digital Island became a wholly owned subsidiary of Cable & Wireless. As a result of the merger, outstanding shares of Digital Island common stock have been converted into the right to receive US$3.40 per share in cash, without interest, subject to the exercise...