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Strategies & Market Trends : Arbitrage Plays

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To: Allen Furlan who wrote (128)	12/20/1999 6:53:00 PM
From: Paul Senior	Read Replies (1) of 376

Okay, two new positions for me today: AEIC and SVE. AEIC seems to be a straightforward cash offer as you've mentioned. SVE (closed today 5 7/8) being bought by LII (closed today 9 15/16) for .67 sh. LII. Est. completion 1Q '00. Both stocks are trading near their lows. Both stocks could almost be considered value stocks based on stated book value, ROE, price/sales. LII is an old line company, but apparently its stock has just been trading only for a few months. LII has announced a 5M share stock buyback, 2M shares which may precede the closing of the SVE tender offer. (There are 45M LII sh. out. per Yahoo.) I see then two props to the stock prices: some support for LII stock due to the buyback. Some reduced selling pressure with LII (and SVE) as tax loss selling abates. re: ACO. Thanks, I'll look at it. OT: Still holding CTZ shares purchased both before and after buyout offer. Also still holding ELAMF.

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