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Technology Stocks : General Instrument Corp.'98 (GIC)
GIC 29.79-0.8%Dec 30 3:59 PM EST
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To: Highway Jim who wrote (607)10/4/1999 11:53:00 AM
From: GRC  Read Replies (1) of 615
 
MOT is at 91.5, and GIC is at 50 3/16. Given the .575 exchange rate, has anyone considered buying GIC and shorting MOT. When (if) the buyout is completed, use the MOT stock received from GIC to cover the short. Right now its about a $4.00 share gain. The .575 rate could go up, which would increase the gain (.6 rate gives about $6.00 gain). I doubt the rate would decrease. Risk is that deal falls through, but this is a small risk, imo.

Any comments?
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