Go to Jeff Salisbury LWGate Home Page.From: "Katherine Malm" <kmalm@earthlink.net>
Subject: RE: [CANSLIM] PRWK buyout
Date: Tue, 22 Jul 2003 11:15:14 -0500
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This is a multi-part message in MIME format. - ------=_NextPart_000_0006_01C35042.86468CE0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: 7bit 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 - ------=_NextPart_000_0006_01C35042.86468CE0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 6.00.2800.1170" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><SPAN class=3D171370716-22072003>Hi Ben,</SPAN></DIV> <DIV><SPAN class=3D171370716-22072003></SPAN> </DIV> <DIV><SPAN class=3D171370716-22072003>The action of a stock to be = acquired will be=20 controlled primarily by the terms of the deal. For example, take a look = at the=20 chart of VNX. This is a cash deal for $35/share announced in June. You = can see=20 that the stock gaps up very near the cash deal price and then hovers = there=20 indefinitely until the deal is closed. In another deal such as HAND, = also=20 announced in June, you'll notice a different price pattern. That is = primarily=20 because the deal is a stock swap in which owners will receive .09 shares = of PALM=20 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=20 PALM and closely match the .09 to 1 share ratio set by = the terms of=20 the deal and will stay that way until the deal is = closed.</SPAN></DIV> <DIV><SPAN class=3D171370716-22072003></SPAN> </DIV> <DIV><SPAN class=3D171370716-22072003>Katherine</SPAN></DIV> <BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px"> <DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT = face=3DTahoma=20 size=3D2>-----Original Message-----<BR><B>From:</B>=20 owner-canslim@lists.xmission.com=20 [mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Ben=20 Chilcote<BR><B>Sent:</B> Tuesday, July 22, 2003 9:43 AM<BR><B>To:</B>=20 canslim@lists.xmission.com<BR><B>Subject:</B> [CANSLIM] PRWK=20 buyout<BR><BR></FONT></DIV> <DIV><FONT face=3DArial size=3D2>I have a question concerning how = buyouts usually=20 unfold. PRWK announced yesterday that EK is buying them for = $21.50 a=20 share. Yesterday PRWK traded between 21.18 and 21.24 with high = volume of=20 course. Today it has traded between 21.20 and 21.24 so = far. Is=20 this tight trading range normal and does it continue until the buyout = is=20 complete or will it return to more "normal" trading=20 activity?</FONT></DIV> <DIV><FONT face=3DArial size=3D2></FONT> </DIV> <DIV><FONT face=3DArial size=3D2>Thanks</FONT></DIV> <DIV><FONT face=3DArial = size=3D2>Ben</FONT></DIV></BLOCKQUOTE></BODY></HTML> - ------=_NextPart_000_0006_01C35042.86468CE0-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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