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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: PeterB who wrote (54)2/8/1997 8:56:00 AM
From: william smith   of 290
 
Good news,

I'm not too impressed about a 10-1 ratio. Why would a company bid 4.5-1 and them cut there bid in 1/2. As a repap shareholder I would not support that at all. The market is playing games with the takeover. I believe perhaps a 6-1 spit may be fair or look at other options. It is like agree to buy somethong for 4 dollars and them walking back into story and saying. Opps I really mean 2. That's nuts.

Will
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