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Biotech / Medical : Respironics
RESP 50.79+0.2%Jan 26 3:00 PM EDT
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To: ManyMoose who wrote (64)1/22/1998 9:25:00 PM
From: Thean  Read Replies (1) of 103
 
Dave, actually the numbers are not as scary as initially thought. Let me try to put it as plainly as possible here:

First the RESP Transaction Share Price used as the basis for conversion of HDTC shares will be determined as the average of 20 trading day period ending on the third trading day prior to the Closing date of the merger - meaning if there are 23 trading days to go till the merger, the Transaction Share Price will be the average of the first 20 trading days.

If that Transaction Share Price (TSP) of RESP is $26.03 or less, HDTC shareholders will receive 0.922 shares of RESP for each share of HDTC. For example, HDTC will fetch $24 if RESP's TSP is $26.03. If RESP's TSP is $24, then HDTC will fetch $22.13.

If the TSP of RESP is between $26.03 and $31.03, then HDTC's shareholders will get $24.

If the TSP of RESP is higher than $31.03, then HDTC's shareholders will get 0.7734 shares of RESP for each share of HDTC. For example, if RESP's TSP is $35, then HDTC will fetch $27.07.

Hope this helps.
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