MEMC INT'L. (WFR -NYSE) The Sleeping Giant? Message Board

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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?

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To: Chip Roos who wrote (3964)	10/22/1998 10:40:00 AM
From: Carl R.	Read Replies (1) of 4697

I would agree that this is positive. VEBA is being very fair with existing shareholders. After this deal, MEMC will have less debt, stockholders will not be diluted unless they elect not to exercise the rights, the stock will still be trading at under book value, losses will be less, losses per share will be much less. I don't see any negatives. Compare this with a floorless convertible! The difference in this case is that they have a parent, VEBA, that is willing to pony up, and that makes the rights offering work. If you don't exercise, VEBA will take your shares and increase its stake. Carl

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