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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (20806)	7/23/1997 11:51:00 PM
From: Kerry Phineas	of 132070

MB, ACP(American Real Estate Investors) announced on July 18th they're having a rights offering some time in September. ACP is a vehicle for Carl Icahn, so of course the stock crashed down to earth when this was announced. The thing is, I can't figure out the scam; seems that CI has the right to oversubscribe, but isn't clear. What kind of scams could he be pulling here, and if one does get rights, how does he/she exercise them, etc. (note, I have a small position). TIA.

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