HGI , F&Slo , 11.125 , -46 , 43 , 05/29/1998
HGI , BSto , 11.125 , -46 , 43 , 05/29/1998
HGI , MAC'D , 11.125 , -46 , 43 , 05/29/1998
had this as a buy candidate for today.
Still good entry here
low volume stock, will give from 1 to 2 dollars in a month
A "safe" buy IMO
pays a 8% div
earnings per share -.24
closed today at 11.125
chart read
trend sideways to down
risk to 10.50 (stop)
reward to 12 to 12.50
time target 1 to 4 weeks
news today
Friday May 29, 4:28 pm Eastern Time
Prime Retail board okays cash distribution
BALTIMORE, May 29 (Reuters) - Prime Retail Inc. said Friday that its board approved the payment of the special cash
distributions to be made in connection with its proposed purchase of Horizon Group Inc(HGI - news).
A special cash distribution of $0.50 per share or per unit will be made to holders of Prime Retail's Series C Preferred
Securities, Common Stock, and the common limited partnership units, and a special cash distribution of $0.60 per share will
be made to holders of Prime Retail's Series B Preferred Stock subject to the completion of the merger with Horizon, the
company said in a statement.
The record date for determining holders entitled to participate in the special cash distributions is June 9. The deal is expected
to get shareholder and partner approval on June 12.
The distributions will be paid concurrently with the closing of the merger, which is presently expected to occur around June 15.
Shareholders and unitholders of Horizon will not participate in these distributions.
The $365 million deal was first announced in November.
Prime Retail has set June 15 as the record date and June 18 as the payment date for the distribution of the common equity of
Horizons. These holders will receive one share of Horizon's common stock for every 20 shares of common stock, common
units or Series C Preferred Stock of Prime Retail, as well as 1.196 shares of Horizon's common stock for every 20 shares of
Series B Preferred Stock held in Prime Retail.
Prime Retail is a real estate investment trust. |
