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Gold/Mining/Energy : mxp (mesa Inc)
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To: Ron Schipper who wrote (243)4/7/1997 8:32:00 PM
From: Bagladdy   of 394
 
Ron,

What is your take on this merger? I keep thinking that if Rainwater thinks it is a good deal and he is the majority stockholder, then maybe it is a good deal for even me, the small stockholder.

If you have any insight into the next 6 months, I would like to hear it. The market obviously gave more value to PDP today than to MXP even though the merger gives birth to a new company; one in which both the participants should benefit.

I guess the stock prices are like water seeking its level, until they settle into that 7=1 relationship; i.e.

PDP @28=MXP @4
PDP @35=MXP @5
PDP @42=MXP @6 and so on

So today, PDP went up and MXP went down, when in reality they both could have gone up or down. What does this mean to you? Am I wrong that the price relationship should follow the 7=1 ratio, or can the stock swap be 7 to 1 irregardless of the individual stock prices?

Regards,

Charles
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