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Strategies & Market Trends : Galapagos Islands

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To: Techplayer who wrote (12933)	11/14/2002 9:59:50 AM
From: Jorj X Mckie	of 57110

06:50 ET HI Household Intl to be acquired by HSBC for approx. $30 stock, or $14 bln (22.46) -- Update -- The deal calls for the nation's second-largest consumer credit company to receive 2.675 HSBC ordinary shares, or 0.535 ADRs, for each Household share. That translates to roughly $30.00 per share, or a 34% premium. However, shares of HSBC Holdings (HBC 56.05), the UK's largest bank, are trading about 4% lower on the news. Deal will come as a surprise to many given that HI shares are trading at multi-yr lows and down 65% since April.

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