WCOM Message Board - Msg: 5944208

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Technology Stocks : WCOM

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To: Anthony Wong who wrote (3381)	10/7/1998 4:27:00 PM
From: Robert O	Read Replies (1) of 11568

Someone on the AMAT thread asked this question: Here's a question about LEAPS I haven't found an answer to yet: Suppose I go long some AMAT 2001 30 calls. Some terrible quarters come along and AMAT common goes down to say $15. GE steps up to the plate in 2000 and buys AMAt lock-stock-and-barrel for $25. What happens to my LEAPS? Does it matter how GE paid for AMAT? Can anyone who owned MCIC long term options or LEAPS let me know what does happen to an out of the money call that has a strike price that was never achieved for MCIC previous to and including the day the buyout occurred by WCOM? Many belive it becomes worthless. Perhaps someone here actually lived (or knows for sure) the outcome of this scenario. Thank you. RO

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