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Technology Stocks : PairGain Technologies
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To: margin_man who wrote (27557)12/9/1998 12:44:00 PM
From: BWAC  Read Replies (1) of 36349
 
MarginMan,

The wording in the press release was sort of confusing. Did you read it as 1/10,000 for $55. Or as 1 whole for $55? I read as #2.

My math says:

70,000,000 shares outstanding times 1/10,000 = 7,000 Preferred shares.

7,000 times $55 = 385,000 which becomes worth $110 or $385,000 more that somebody has to pay.

Is this right thinking? If so the "poison pill" ain't much to swallow for a serious acquirer.
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