Arbitrage Plays Message Board

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Strategies & Market Trends : Arbitrage Plays

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To: Paul Senior who wrote (214)	4/5/2000 4:39:00 PM
From: Keith J	of 376

Paul, my understanding with HERBB from the YHOO message board is that Hughes was trying to push a $100 million + "lifestyle" loan for one....and he is not very well liked on the street, but owning over 51% of the shares, what can you do about it. To me...it was always about Hughes wanting a sweetheart financing deal and he delayed as long as he could trying to get the best deal, but time ran out. It is a tender deal, no vote, and it appeared that about 99% of the outstanding stock had been tendered at the end of March...stock was up nearly a buck today, but is still a good 20% from the buyout price. I'll be glad to get this one off my books once it closes...it's taken entirely too long. KJ

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