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Technology Stocks : ATPX: Lunn Industries and Technical Products Group merge.
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To: Emec who wrote (449)11/3/1997 5:11:00 PM
From: Linda Kaplan  Read Replies (3) of 1923
 
All: I've held stocks many times that have merged and where the merger included some complicated calculations for the new number of shares. For example, when SWY acquired VON, there were 1.425 shares of SWY for every share of VON. It's often true that it will take a day or even several days before the new shares will hit one's brokerage account, but the broker can verify the "deal" and will allow you to trade the shares based on what they verify. I've never seen chaos like this accompanying a merger before; it's amazing. I think that someone screwed it up. Unfortunately, at least some of the increase in share price today was due to some people hoping to get 10x the value for the ATPX shares they bought today. If that's the case, there will likely be a price drop once the MMs straighten out the confusion. I can hardly wait to see what they'll do tomorrow. It's my impression that most everyone on this thread was trying to sort out the chaos, and even if some incorrect conclusions were reached, it was in good faith, and in the spirit of trying to get to the bottom of things. I don't personally enjoy reading insults in the threads, so I hope that those of you who are perpetuating that kind of discourse will take it off the boards now. Bring it to private discourse if you must engage in name-calling. While some people consider it entertaining, most of us do not. Linda
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