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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (78647)	3/27/2000 11:23:00 AM
From: Mama Bear	Read Replies (2) of 132070

Michael, I was wondering if you had an opinion wrt a short PALM long COMS paired trade. Each share of COMS is worth 1.5 PALM + the value of what's left over. COMS has stated they intend to spin off the PALM shares to COMS holders sometime this summer, providing they get a favorable ruling from the IRS. At this moment PALM is about 56 and COMS is 69. It seems there is about 16 points there for the taking, plus perhaps a few points for any residual value COMS may have after a spinoff. I understand the risk would be that the ruling is to not allow a tax free spin off, or that COMS decides not to spin it off. Am I missing anything? Regards, Barb

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