Georgia Bard's Corner Message Board

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Pastimes : Georgia Bard's Corner

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To: Ga Bard who wrote (2343)	5/21/1998 5:41:00 PM
From: Crossy	Read Replies (2) of 9440

Gary, well now that the good news is out on MIDL I seem to finally comprehend the game-plan Mr. Fisher had in mind with the 50% stock dividend and the warrants. Obviously he didn't need money. But his moves were somehow to preemp takeover attempts. He created shareholder value by 1) ensuring that nothing will be sold from the company's treasury to the open market 2) giving existing shareholders the opportunity to max out their position - including the warrant holders 3) thus forcing arbitrage people those shorting one and having the other long to reestimate their calculations 4) forcing a potential acquisition to be "PAID IN FULL" - if shares are tendered - it will be fine. But they will have to be tendered to the maximum amount possible. HEHE. Nobody will get the company cheap - that was ensured in this way. Very screwd move I think Summing up, Mr. Fisher seems to be doing a great job. I wonder who holds so many of MILDW & MIDLP besides You Gary. Could it be Steven King, the financier ?? Guess so, no problem with it. Now that the final act just started I like to sit back and watch. If MIDL will be acquired it will be a high-bidding contest for sure.. best regards CROSSY

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