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Non-Tech : Lunn Industries (LUNN)
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To: VALUESPEC who wrote (1034)9/28/1997 10:26:00 PM
From: Sergio H   of 1436
 
Valuespec, these same questions have been asked and answered.

Here's tonight's version just for you:

1 and 2 were not questions.

<3) LUNN shareholders will pay 15.90 per share for the new company based on Friday's closing price of $1.59A for LUNN (1 new share for each 10 shares of LUNN means your paying $ 15.90/share for the new
company)>
Yes and at that price you're getting TPG for free.

4) The company which is merging with LUNN has had decreasing earnings. In fact, for the Q ended in Aril, TPG actually lost money and the newco would have lost money, too.
Please read at least the report. There are several points regarding this issue. TPG is involved mostly in govt. contracts. Dept. of Defense money comes in cycles and this will have an impact on TPG from time to time. TPG is on a roll this year and have two contracts last week that have yet to be announced. The deal is structured to insure that TPG's earnings meet an agreed upon minnimum, otherwise LUNN shareholders get bonus shares. There is also the Allen and co.
fairness statement to read included in the merger filing. s-4 or whatever. The study by Allen and CO. puts a fair value on TPG.

5,6 AND 7 are covered by the same thing. Also, this is not a reverse split. Hey, anyone that doesn't understand the deal, should not buy it.

Sergio
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