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Strategies & Market Trends : Three Amigos Stock Thread

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To: Sergio H who wrote (2656)	4/4/1998 3:07:00 PM
From: Sal D	of 29382

Sergio, yes there was a revision to the deal. The transaction, planned as a stock-for-stock exchange. One share of WHEL will be exchanged for 0.7 shares (revised from 0.8 shares)of RACN The revision reflects an updating of the relative valuation of WHEL, specifically additional working capital needs have been identified as a result of WHELs expected business expansion and expectations regarding the future sales and earnings contributions of WHELs home decor business has been reduced. WHELs estimated revenues now are anticipated to be closer to 50m, slightly lower then previous estimates. RACN expects the acquisition to close during the first half of 1998. I still think the combined company will be a nice fit. Ill be watching this. Joe

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