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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: JHR who wrote (5245)12/15/1997 4:39:00 PM
From: pz  Read Replies (1) of 95453
 
Reason for all the action in LSS today.

Monday December 15, 2:11 pm Eastern Time

Bass, affiliates say held Lone Star talks

NEW YORK, Dec 15 (Reuters) - The Bass family and associates said in a 13D filing
Monday with the U.S. Securities and Exchange Commission that they had held
discussions with the management of Lone Star Technologies Inc (NYSE:LSS - news)
on a possible acquisition of the drilling services company.

Another possibility was that the investors would form a group to undertake a leveraged
recapitalization of Lone Star.

''The reporting persons intend to have future discussions with management of the
issuer, with the issuer's board of directors, with other shareholders of the issuer and
with third parties regarding shareholder value maximization,'' the investors said.

According to the filing with the SEC, the group which comprises Alpine Capital LP,
Algenpar Inc, The Anne T and Robert M Bass Foundation and Keystone Inc, holds
5.783 million Lone Star shares, or 25.2 percent of the total outstanding.

Last week Lone Star said it had bought back 113,000 shares and regarded its stock
as undervalued.

Lone Star rose 1-3/8 to 25-7/8 after the Bass announcement, but was still way off its
year high of $59.
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