Avenor (avr-tse) - Repap buyout (rpp-tse) Message Board

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Gold/Mining/Energy : Avenor (avr-tse) - Repap buyout (rpp-tse)

AVR 4.010

-4.8%

Nov 6 3:59 PM EST

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To: william smith who wrote (46)	2/3/1997 6:52:00 PM
From: wesley vandenhazel	of 290

Will, If Avenor thought Repap was worth it to make the initial offer of 4.25 RPP for 1 AVR share, I would be very surprised if they will not amend the deal to make it palatable to their own shareholders. Remember that if the deal is not concluded, they must pay Repap $50 million. The market now has the stock ratio at 10:1 . The happy medium probably is around 7 but I am not sure if Petty would part with his shares at that low price- I'm sure alot of others would. I would be interested in knowing who is unloading at these prices -- institutional shareholders or others. Wes

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