Go to Jeff Salisbury LWGate Home Page.From: "Ben Chilcote" <cbenj@pennswoods.net>
Subject: Re: [CANSLIM] PRWK buyout
Date: Tue, 22 Jul 2003 12:41:12 -0400
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Hi Katherine,
Thanks for your quick response. Guess I will sell my shares then, since =
there doesn't seem to be a chance for moving any higher any time soon.
Thanks,
Ben
----- Original Message -----=20
From: Katherine Malm=20
To: canslim@lists.xmission.com=20
Sent: Tuesday, July 22, 2003 12:15 PM
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><FONT face=3DArial size=3D2>Hi Katherine,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Thanks for your quick response. =
Guess I will=20
sell my shares then, since there doesn't seem to be a chance for moving =
any=20
higher any time soon.</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 dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dkmalm@earthlink.net =
href=3D"mailto:kmalm@earthlink.net">Katherine=20
Malm</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Tuesday, July 22, 2003 =
12:15=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] PRWK =
buyout</DIV>
<DIV><BR></DIV>
<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=20
be controlled primarily by the terms of the deal. For example, take a =
look at=20
the chart of VNX. This is a cash deal for $35/share announced in June. =
You can=20
see 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=20
PALM for each share of HAND. The price action will therefore be =
controlled by=20
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=20
usually unfold. PRWK announced yesterday that EK is buying =
them for=20
$21.50 a share. Yesterday PRWK traded between 21.18 and 21.24 =
with=20
high volume of course. Today it has traded between 21.20 and =
21.24 so=20
far. Is this tight trading range normal and does it continue =
until the=20
buyout is 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=20
size=3D2>Ben</FONT></DIV></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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