ATLANTA-World Access Inc., and Telco Systems Inc. announced the boards of directors of both companies have agreed to merge.
Each Telco share will be converted into shares of World Access stock having a value of $17 per share, based on the average daily closing price. If the price is more than $36 then each share of Telco stock will be converted into 0.472 shares of World Access stock. If the price is less than $29, each share of Telco stock will be converted into 0.5862 shares of World Access.
