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Non-Tech : adtrdng
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To: KevRupert who wrote (169)7/21/2000 7:53:58 PM
From: KevRupert   of 186
 
Spinoffs:


David,
*OT*

Now that we are nearing the end of our 6-9 month drama, what will we do next?

I saw you mention the LU spinoff.

Have you looked at METHA/STLW? I got some STLW in the IPO, which is a spinoff from METHA. The resemblance is a little eerie. They plan on completing the spinoff "in about 6 months" after they receive a favorable "tax-free" distribution ruling from the IRS, at which point they plan on distribution approximately 1.5 shares STLW for each METHA shareholder.

I know absolutely nothing about METHA, but STLW seems to be getting some pretty good press, and the QP was up today, so Monday should bring some BUY ratings and maybe even a $100 price target (currently about $49).

Currently, METHA's market cap is about 1.9B and STLW is about 3.1. Sound familiar? Looks like some serious arbitrage there.

A little different than PALM though in that it has been slowly climbing since a week or so after the IPO.

Any thoughts?

kcmike

PS. I think ETN/AXCL is another spinoff.
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