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Non-Tech : Morrison-Knudsen (MRN)
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To: Dave Lyall who wrote (9)5/21/1996 8:01:00 AM
From: Ira Vine   of 27
 
The exact details haven't been announced, but essentially the new company will be what is now WAS. Ironically, they will change the name of the company to Morrison Knudsen after the merger (the name has market value), but if you hold Morrison Knudsen shares now, you will be offered a certain number of warrants in exchange for your MRN shares. These will give you a right to buy shares of the new company (let's call it New Morrison) for a certain amount of time at a certain price. The price they are talking about is $12, but I don't know if you get one warrant for every share (I suspect that it will take several warrants for one share, but I am not sure). In any case, at that point what will trade are shares of New Morrison as well as New Morrison warrants. Effectively, WAS will trade with a new symbol and MRN will no longer trade. Bottom line: if you have WAS stock you will get stock in the new company, if yu have MRN stock you will get an option to buy stock in the new company.
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