russn OT ~~~ OT ~~~ OT ~~~~~~~~~~~~
You may have been listening to someone else at that time and believing I was senile. Here is how it was explained to another -- after the fact,, Sorry,,,
OT~~~ DOUG ~~ OT,, Re VSIO/MSFT. VSIO is (was) a small graphics company. 6 - 8 weeks ago MSFT /
VSIO announced they would merge depending on shareholder votes and SEC as normal plus DoJ approval (DoJ
had a 20 day review period). Each VSIO would equal .45 MSFT. This type of merger often runs a 3% - 8%
discount until it gets real close to merge date. MSFT had dropped to 88 - 90 where you knew it would not stay.
VSIO was in the 34 - 37 range. On the high side 2.1 X 37 = 77.70. At that time you were looking at an $11
discount to MSFT on the low of 88. So-- these shares I bought averaged 35 X 2.1 = 73.50. Todays price 111.47
- 73.50 or a discount at todays price of $37.97 a share. That is round about as my avg was not 35 even and there
were fees involved. It came to you needed 112 VSIO for every 50 MSFT and you end up with fractions of shares
etc so the math is not exact but DAMN close! Few had the balls as they were afraid the DoJ would mess the deal
but the DoJ had NO REASON to do anything. VSIO was SMALL and Graphics plus they had NO OS benefit. It
was a lock. I did mention it here and only 2 people asked about it,,, one I believe bought 112 @ 35 7/8 and did
well for 50 shares plus $40 ++ Back. I'll be selling some excess MSFT at 120,,, LOL!! |
