Seagate Technology - Fundamentals Message Board

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Technology Stocks : Seagate Technology - Fundamentals

STX 275.95

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Nov 5 3:59 PM EST

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To: Sam who wrote (1711)	4/11/2000 1:49:00 PM
From: Robert Douglas	Read Replies (1) of 1989

Sam, I think I mentioned in an earlier post why I thought the deal would pass a shareholder vote. First, all insiders (duh) and probably employees with their pension shares will vote for it. Secondly, and someone needs to help me out with this, aren't the shares that have been bought back still available to vote? I would guess that management would vote these yes. (duh) Thirdly and most importantly, the huge volume since the announcement will put a large number of shares in the hands of arbitrage players. These players will go long Seagate and short Veritas in the hopes of locking in a tidy return for their efforts. Their play is no-risk if the deal goes through. All the persuasion in the world isn't going to change these "yes" votes. Tally up all these and I think the vote will pass. I wouldn't be surprised if many of these mutual funds have turned their straight long position into a hedged one and will have incentive to vote for the deal. That is if they haven't sold outright already.

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