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Biotech / Medical : Trickle Portfolio
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To: tuck who wrote (349)1/8/2001 7:56:54 PM
From: smh  Read Replies (2) of 1784
 
Tuck,

There is a floor of 6.75 on the callable common. At the current price of 5.00 this represents a premium of 35%.

The 30 ma as of todays close is 6.92. Two more days at 5 and the average falls below the floor. PKI will never be able the to buy out GNSL for a lower cost. As I have said before, I see no reason for them not to. We should know soon. An interesting speculation, No?

Two thing I don't understand. 1)If PKI gives notice, does mgmt have the right to shop for a higher bidder. Of course PKI has the right to match any offer in any case. 2) I don't see what mgmt got to justify giving the subject option to PKI in the first place.

Good Luck,
SMH
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