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Gold/Mining/Energy : ASARCO (AR)
AR 34.22-0.7%3:59 PM EST
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To: Patrick J. Saunders who wrote (28)12/22/1997 9:52:00 PM
From: Jyoti sharma  Read Replies (1) of 58
 
Patrick,

I did not hear of any rumors or news of takover. This came up in a conversation I had with a broker at Smith Barney. He thought the only attraction with AR was a possible take over. The stock is selling at half of its book value and has over 75% institutional ownership. In addition he thought there is a lot of cash on hand with this company. He thought some one can buy the company with very little cash. He was just speculating.

I have just checked with Vicker's there is not much insider buying or selling activity as of Nov. Insider ownership also appears to be small.

Jyoti
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