ARRIS - Another partner Message Board

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Biotech / Medical : ARRIS - Another partner

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To: chirodoc who wrote (223)	11/9/1997 8:55:00 PM
From: John Metcalf	Read Replies (2) of 353

Chirodoc, I also added to Arris this week, but I did so by buying Sequana. It's just simple arbitrage. Arris shares will be converted into AxyS shares at 1 for 1. SQNA shares will convert at 1.35 to 1. At Friday's last asked quote, the arbitrage was mostly gone: stock asked effective price for AxyS share ARRS $10.69 10.69 SQNA $14.00 10.37 (3% less) When you buy your shares, divide SQNA's quote by 1.35 and compare it to ARRS quote. Buy the less expensive. As to outstanding CEO's, you might consider Peter Johnson of Agouron or Tim Barbarich of Sepracor. Henri de Genzyme would not be on my list.

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