Global Crossing

On 25 August 2006, Global Crossing announced a recommended £51mlion cash offer by its subsidiary GC Acquisitions UK, for UK listed alternative telecoms provider Fibernet Group plc. The offer price of 78p per share represents a premium of 100 per cent. to Fibernet's pre bid speculation closing price of 38p on 8 August 2006. Canaccord Genuity assisted in gathering irrevocables in support of the offer totalling 39 per cent. of Fibernet's share capital, including hard irrevocables from Directors and associated trusts of 12 per cent.

Canaccord Genuity acted as sole financial advisor to Global Crossing.