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Non-Tech : Loewen Group
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To: Michael Bidder who wrote (166)5/20/1999 11:00:00 AM
From: Steve Johnston   of 277
 
He would exchange his (discounted) purchased debt for new shares, and end up controlling the company. Creditors would at least get some of their money back, Loewen would reduce it's heavy debt load, and then "the raider" would clean house and bring in a Management team to move the company forward, and re-establish profitability and cash flow. Share price would then recover. That's what's in it for guys like Carl Icahn. Regards.
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