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Strategies & Market Trends : Value Investing

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To: TimbaBear who wrote (12624)	6/11/2001 8:36:34 PM
From: 249443	Read Replies (2) of 78536

TimbaBear or anyone, "KSL will own the general partner interest and 5.1 million limited parter units of Kaneb Pipe Line Partners, L.P." --- this is an excerpt from the 6/6/01 company news. 1) KPP is already issued and trading (20.29 million outstanding shares). 2) KSL will be new symbol for the new KAB. 3) KSL owns 5.1 million KPP shares. I'm trying to identify where the 1 for 3 spinoff (which Kaneb will spinoff on 6/29/01) shares will come from? 4) This does seem like a good arbitrage opportunity -- if I can identify all of the exact issues. Based upon KPP trading already, @ $36, then this gives us part of the equation...

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