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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: Scott Mc who wrote (952)	4/30/2001 11:13:35 PM
From: Lorne Larson	Read Replies (1) of 11633

The way I see it buying BXL right now is an easy way to buy VKR at a rather cheap price, if you're interested in VKR. The offer provides that you can exchange 1 BXL share for .333 VKR shares.If you buy BXL at $2.84, you're getting .333 VKR shares for $2.84, which, if I can remember my high school algebra, means you're getting VKR at $8.53/share. That's not bad considering that VKR closed today at $9.12. Only question I have is whether the BXL shareholders who tender to the offer will participate in the May declared/June payable VKR dividend. Press release was silent in this regard which leads me to believe not.

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