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Biotech / Medical : CGNE CALGENE

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To: Bhag Karamchandani who wrote (46)	1/30/1997 12:13:00 PM
From: aknahow	of 76

Bhag, Jim McCamant just spoke on local Los Angeles Stock Program. Said $7.25 is too low deal will probably close a $8 which is still too low. I have no interest in fighting this. Class action will just make money from the lawyer. If they go to $8 its going to be hard to prove the offer is unfair. If the market valued this co much lower for so long even with Monsantos support how can one claim its worth more? Some of the details of the bid perhaps will change to give the appearance of listening and accomodating shareholders. Look I was in love with the technology. This was a most interesting co. But I had a big loss. After the buy out my loss will be moderate. Seems that once Monsanto owned aprox 55% what happened was obviously going to happen. My only supprise was the timing. Advise take your gains, losses and learn something from how the takeover was done. Gulf Oil of Canada said they failed to get Czar Resources because they did not get enough stock prior to the offer. Monsanto did not make that mistake. Useable in that one might consider as takeover targets cos where small stake owned but once majority owned while takeover may occur there probably won't be bidding war.

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