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Strategies & Market Trends : Value Investing
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To: sjemmeri who wrote (14801)8/18/2002 5:24:24 PM
From: Allen Furlan  Read Replies (1) of 78628
 
Steve, re eln. Just discovered that eln has a putable convertible. My understanding is that eln has to provide 61.65 in cash or stock on 12/14/03. Since the convert sells for about 26 the street seems to be betting that the company will have to use stock. The number of shares would be based on price of eln at time of exercising the put. Like a toxic convert.
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