WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 157.75

+0.4%

Nov 14 9:30 AM EST

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To: Ausdauer who wrote (11366)	5/22/2000 9:09:00 PM
From: Zeev Hed	Read Replies (1) of 60323

Actually, the SMH is a source of demand for SNDK stock. The Trustee (Bank of NY, if memory serves) has to buy more of the "basket as people are looking for more of these instruments. At a point in time (and I do not know what regulate this, you'll have to see the S-1 filing that Merrill has filed with the SEC), they'll stop increasing the shares outstanding in the SMH (it has its own float), and as an owner of SMH, you cannot ask for redemption, only find a buyer to buy your shares, just as you cannot "tender" your SNDK shares to the company. Zeev

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