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Gold/Mining/Energy : Microstar Software
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To: Conky Lives! who wrote (95)11/4/1999 11:18:00 AM
From: Conky Lives!   of 96
 
I had purchased some shares a week before the stock became delisted. These shares were in turn taken-up by Open Text on 10/29/99 for a 4% profit for me in three weeks.

This is an interested play: purchase a stock that is subject to a takeover and that has been 90% acquired and then wait for these shares to be taken-up. (Note: there is no fee charged for shares to be taken up). While the return is small, the period of time is very short and annualized, the return is huge. Also, because the stock has already been 90% acquired, it is pretty much a sure thing that all remaining shares will be taken up.

Trading after most of a stock has been tendered and taken up is extremely sparse and takes a little bit of luck and patience, but is possible.

I've also done the same thing with (TSE:IUN) and awaiting those shares to be taken up.

If anyone else has had success with similar plays, I's like to here them.

Leon (ll1@siliconinvestor.com)
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