LEGATO SYSTEMS LGTO Message Board

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Technology Stocks : LEGATO SYSTEMS LGTO

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To: tom jones who wrote (242)	10/27/1998 9:19:00 PM
From: Timothy W Adams	Read Replies (1) of 1138

Per the press release that 10.7 million shares of FTSW are outstanding and 1.4 million shares are represented by options on 10-22-98: 1.721/(10.7 + 1.4) = .1422 shares of LGTO per share of FTSW (or 7.0308 shares of FTSW per share of LGTO). FTSW closed today at $4.5625, which represents $32.078 in terms of LGTO. But LGTO closed at $38.375. Looks like, today anyway, LGTO can be had at about a 16% discount by buying FTSW instead. If one wants to be in LGTO, this seems like a mighty good way to do it! Do you think the spread will widen at all from here or continually narrow all the way to closing time for the deal? Also, what is the likelihood of the FTC or SEC slowing down the deal for review? I'm a little gun-shy of stock deals after the ALA/DIGI deal.

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