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Biotech / Medical : Biotech for less than a buck.

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To: RWReeves who wrote (526)	4/7/2000 12:08:00 AM
From: RWReeves	Read Replies (1) of 743

CIST: At 20.85 million shares out, and the deal worth 18 million that's 90 cents a share for CIST. You get about .022 shares of CLL at 40 bucks per share for CLL(average 5 day trailing price through 20 March estimated by eyeball) for each share of CIST. The additional IL-1 options are each worth another 17-18 cents per share of CIST, if both get pulled down the value is 1.25 per share for CIST in total (.90+.35). CIST closed at half this today. Who is going to vote against it? CIST shareholders? Not Likely. CLL shareholders. Also not likely. Government agencies? I doubt any care. So it looks like a moving deal. Done no DD on whether AVE will pull down the options. RWR

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