Electrohome (EL.X-T,EL.Y-T)Baton Bcast (BNB-T) CTV Event Message Board

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Gold/Mining/Energy : Electrohome (EL.X-T,EL.Y-T)Baton Bcast (BNB-T) CTV Event

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To: M. Merriam who wrote (6)	12/3/1997 9:35:00 PM
From: csm	of 38

Mike, Big news today that Electrohome will reorganize to create a public company holding only the BNB shares and distribute shares in the new company to existing X and Y holders. That means 7/8 of a BNB for each EL.X or EL.Y. With BNB at $24 today that makes the new share worth $21. Subtract whatever discount you think the market would apply (maybe 20%?) and you've got an estimate of what the shares would trade for, $16 or better. Then there's the matter of valuing the projection business since that is all the Electrohome shares will have left. I haven't got a good number for this, does anyone else? X and Y were up today,as expected but BNB also moved up nicely. Anyone know what is going on there? Looks like the existing shares could eventually be worth $19-20 or so. Stuart.

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