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Technology Stocks : Pure Atria Corp(PASW) and Rational(RATL) Merger

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To: Randy Ellingson who wrote (103)4/24/1997 5:40:00 AM
From: Alex Wulder   of 147
 
All: some questions.
1 Anyone with the details on the conditions under which the
reciprocal options between RATL and PASW of 19.9% in newly
issued shares would be exercised? Presumably if the merger fails?
2 Any convertible bonds outstanding of either PASW or RATL?

I'm starting to look into buying RATL (most likely through PASW,
at this time...). I am like others on this thread a little
puzzled by the spread between the price of 0.9*RATL and PASW.
If the merger is virtually made inevitable through the use of
options then the spread seems way too high.

-Alex
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