Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Andrew H who wrote (10438)	7/1/1999 8:11:00 AM
From: Mr_X	Read Replies (2) of 18998

Do a little homewrok, numbskull. Ceridian bought 98.4% of the company in a tender on June 7. There is 400k shares left, owned by people so asleep they missed the tender. The stock was taken up by Rusell 2000 indexers acting on an erroneous re-balancing assumption who also failed to do any work to realize that ABRX has already been taken over. The 400k shares will be paid $25.50 and retired on June 19. What happened yesterday was absurd and is the product of stupid people armed with too much technology and firepower. ABRX is an ivestment grade short, as there can be no other outcome than a $25.50 payment on June 19th. Mr. X

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