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Non-Tech : Lunn Industries (LUNN)
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To: VALUESPEC who wrote (1034)9/29/1997 12:20:00 AM
From: Ken W   of 1436
 
Valuespec:

First off, you did not like IFCI at 1.75 either it went to 5.00.

1. Fairly correct on the number of newco shares.

2. The combined co would have earned .91 per share ended 96..These are two seperate co's now and will merge. Adding the two together and then saying this is what the newco would have earned a year ago is silly. TPG and LUNN have contracts in the hopper that they will join together after they merge. This will go to their eps, obviously you have not read the SEC filings and amendments.

3. Newco shares will not be based on Friday's close. We have no idea what the newco shares will open at post merger. That depends on the market makers for the stock, which Allen Co. may be a MM for the stock. They own 360,000 shares of LUNN. Suppose they have a stake in newco being fairly valued.

Frankly 4,5,6 etc. is all drivel. Read the filings and amendments, the LUNN reports by the DIS team. I think you will change your mind.

Regards

Ken W
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