Compaq Message Board - Msg: 3871327

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Technology Stocks : Compaq

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To: Satyr who wrote (23546)	3/28/1998 9:34:00 AM
From: Roads End	Read Replies (1) of 97611

Satyr....Barrons has an interesting piece today regarding the CPQ/DEC deal. Tried to copy it out but can't and you can't link unless you have a subscription. Westchester Capital has a merger fund and the two fund managers are the subjects in the interview. They have put a high probability of success on the merger and a completion date some time in May. They further state that management of both companies are highly motivated to see the deal through. Their calculations for the deal place a value for Digital at $55 1/8. That puts the value of CPQ at $26 9/16. If the other players in the arbitrage game have similar valuations we may not see much movement for CPQ from the current level till the deal is done. I'm wondering if it would make more sense to own Digital for now? I know just about nothing with respect to arbitrage so all comments are encouraged. Steve

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