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Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
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To: Nine_USA who wrote (26832)5/10/2000 1:41:00 PM
From: KJ. Moy  Read Replies (1) of 29386
 
Herb,

<<Since ANCR is selling at a mere 3-4 percent
discount to the exchange value of the QLGC,
I thought it made sense to sell some of my ANCR and buy
the equivalent position in QLGC. If the deal takes 3 months
to completion, the chance that the deal unravels
may result in a higher discount for ANCR which would bring ANCR price lower relative to the QLGC price.>>

If you have shares which were bought, let say last September, and will be qualified for long term gain come September-2000. If you sell now, they are short term gain/loss. If you wait for the conversion later, then your shares of Ancor will qualify for long term gain come September. Some of my shares are in this category. And, if you wait, (assuming you want to hold QLGC shares after the conversion), you can ignore the market discount. You will receive the full conversion rate, i.e. more QLGC shares as suppose to sell ANCR and buy QLGC now.

KJ
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