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Strategies & Market Trends : Arbitrage Plays

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To: Paul Senior who wrote (197)3/14/2000 11:22:00 AM
From: Allen Furlan  Read Replies (1) of 376
 
Paul, Robert Re ctz. Bought more shares today and my broker said that all shares can be elected to get shares of fnf. Assuming that those who elect shares get 23 in shares and are pro rated to receive 26 in cash the current value of the deal is approximately 26 + (23/13.21)*15=52 This assumes fnf stays at 15 for next week. Could be greater since many who opted for cash may fail to change election.
Also sold aac. Prospectus said that stub would not be listed and that means the holders will be subjected to whim of market maker.
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