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Technology Stocks : Softkey (SKEY)?
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To: Raymond J. Steck who wrote (47)2/22/1996 1:42:00 PM
From: zTrader_77   of 247
 
The deal with MECC was made when Softkey was at around 40.00. The ratio for MECC shareholders would be 1.14286 for each share of Skey if Skey was between 35-45. If the price of Skey goes above 45 then the ratio would be .88??. As we know, SKEY went south bigtime. Nothing in merger ratio about if SKEY falls below 35. The ratio would still be 1.14286 even if Sofkey went to 10..Shareholders a course would vote no. The deal was valued at 370 million..that would put MECC at 42.00 share I expect an announcement anyday now about the vote. By the way, MECC could not break deal off without paying 10 million..pretty slick of skey to include this and not include a clause about what happens if skey drops below 35..CU/SIER/DAVD have a clause that lets them out if CU goes below 29. If skey goes to 30 mecc should be at 34.
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