Go to Jeff Salisbury LWGate Home Page.From: Eddie Garratt <egarratt@soft-pak.com>
Subject: RE: [CANSLIM] PRWK buyout
Date: Tue, 22 Jul 2003 09:38:21 -0700
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I used to work for PRWK (it was INCX back then and then split into 2
companies PRWK and VWKS). I own almost 1500 shares. I had at one type
almost completely written this off as lost money. Sweet.
- -----Original Message-----
From: Katherine Malm [mailto:kmalm@earthlink.net]
Sent: Tuesday, July 22, 2003 9:15 AM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] PRWK buyout
Hi Ben,
The action of a stock to be acquired will be controlled primarily by the
terms of the deal. For example, take a look at the chart of VNX. This is a
cash deal for $35/share announced in June. You can see that the stock gaps
up very near the cash deal price and then hovers there indefinitely until
the deal is closed. In another deal such as HAND, also announced in June,
you'll notice a different price pattern. That is primarily because the deal
is a stock swap in which owners will receive .09 shares of PALM for each
share of HAND. The price action will therefore be controlled by
arbitrageurs. The price action in HAND will essentially mirror the action in
PALM and closely match the .09 to 1 share ratio set by the terms of the deal
and will stay that way until the deal is closed.
Katherine
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Ben Chilcote
Sent: Tuesday, July 22, 2003 9:43 AM
To: canslim@lists.xmission.com
Subject: [CANSLIM] PRWK buyout
I have a question concerning how buyouts usually unfold. PRWK announced
yesterday that EK is buying them for $21.50 a share. Yesterday PRWK traded
between 21.18 and 21.24 with high volume of course. Today it has traded
between 21.20 and 21.24 so far. Is this tight trading range normal and does
it continue until the buyout is complete or will it return to more "normal"
trading activity?
Thanks
Ben
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<DIV><SPAN class=130373316-22072003><FONT face=Arial color=#0000ff size=2>I used
to work for PRWK (it was INCX back then and then split into 2 companies PRWK and
VWKS). I own almost 1500 shares. I had at one type almost completely
written this off as lost money. Sweet. </FONT></SPAN></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV class=OutlookMessageHeader dir=ltr align=left><FONT face=Tahoma
size=2>-----Original Message-----<BR><B>From:</B> Katherine Malm
[mailto:kmalm@earthlink.net]<BR><B>Sent:</B> Tuesday, July 22, 2003 9:15
AM<BR><B>To:</B> canslim@lists.xmission.com<BR><B>Subject:</B> RE: [CANSLIM]
PRWK buyout<BR><BR></FONT></DIV>
<DIV><SPAN class=171370716-22072003>Hi Ben,</SPAN></DIV>
<DIV><SPAN class=171370716-22072003></SPAN> </DIV>
<DIV><SPAN class=171370716-22072003>The action of a stock to be acquired will
be controlled primarily by the terms of the deal. For example, take a look at
the chart of VNX. This is a cash deal for $35/share announced in June. You can
see that the stock gaps up very near the cash deal price and then hovers there
indefinitely until the deal is closed. In another deal such as HAND, also
announced in June, you'll notice a different price pattern. That is primarily
because the deal is a stock swap in which owners will receive .09 shares of
PALM for each share of HAND. The price action will therefore be controlled by
arbitrageurs. The price action in HAND will essentially mirror the action in
PALM and closely match the .09 to 1 share ratio set by the terms of
the deal and will stay that way until the deal is closed.</SPAN></DIV>
<DIV><SPAN class=171370716-22072003></SPAN> </DIV>
<DIV><SPAN class=171370716-22072003>Katherine</SPAN></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV class=OutlookMessageHeader dir=ltr align=left><FONT face=Tahoma
size=2>-----Original Message-----<BR><B>From:</B>
owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Ben
Chilcote<BR><B>Sent:</B> Tuesday, July 22, 2003 9:43 AM<BR><B>To:</B>
canslim@lists.xmission.com<BR><B>Subject:</B> [CANSLIM] PRWK
buyout<BR><BR></FONT></DIV>
<DIV><FONT face=Arial size=2>I have a question concerning how buyouts
usually unfold. PRWK announced yesterday that EK is buying them for
$21.50 a share. Yesterday PRWK traded between 21.18 and 21.24 with
high volume of course. Today it has traded between 21.20 and 21.24 so
far. Is this tight trading range normal and does it continue until the
buyout is complete or will it return to more "normal" trading
activity?</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>Thanks</FONT></DIV>
<DIV><FONT face=Arial
size=2>Ben</FONT></DIV></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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