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Gold/Mining/Energy : MGI Software (MGI on the TSE)

MGI 10.99

0.0%

Jun 1 5:00 PM EST

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To: Kerm Yerman who wrote (252)	5/5/1998 8:22:00 PM
From: Don Beals	Read Replies (1) of 553

Kerm I sold my MGI shares the day after the DIscreet earnings announcement. Clearly DIscreet knew they were short for the quarter when they made their offer for MGI. Shortly after the MGI acquisition announcement Discreet's share price went down. I don't think this was due to the MGI takeover news but rather the news of Discreet's impending bad quarter got out to the "informed". I don't like owning companies that do business like this. As an investor I want as a level playing field as possible. If they weren't going to meet the quarter's estimates they should have made the news public and it should have been factored into the MGI offer. Therefore I sold. Don

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