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Non-Tech : Green Tree Financial (GNT)
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To: gerard mangiardi who wrote (158)4/10/1998 2:12:00 PM
From: Brett Nelson   of 169
 
<CNC's option to buy gnt stock at around 52 is protection against other potential suitors from making a higher offer>

Perhaps, but it's only for 20% of the outstanding shares, hardly enough to garner a controlling interest. Moreover, given the market's reaction to this deal thus far, another suitor could likely do the deal at a price below that, particularly if they offered cash right now. In any event, we are a long way from that number currently.
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