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Biotech / Medical : Integrated Health Services

IHS 7.990

+2.0%

10:25 AM EST

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To: DJ Levy who wrote (3)	3/13/1997 8:35:00 AM
From: Scott Taylor	of 88

To All; I am trying to get a read on the merger of Coram(CRH) with IHS. As I understand, the merger was announced 3rd/4th qtr '96, and is expected to close sometime in 2nd qtr '97. The following was copied from IHS last earnings announcement; 'The Company announced that it has entered into a definitive merger agreement to acquire Coram Healthcare, the largest provider of home infusion services in the U.S. The combined company will be the nation's second largest home health company. The transaction, which is still subject to various approvals, is not expected to close until the second quarter of 1997.' The merger calls for the exchange of .211 shs of IHS for one share of CRH. Based on yesterday's close of IHS @ $31.125 the value of the CRH shares would be in excess of $6.5...CRH closed yesterday @$4 5/8. Both companies have decent..if not good earning prospects. Is there a play here on IHS by being long CRH?

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