Arbitrage Plays Message Board

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Strategies & Market Trends : Arbitrage Plays

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To: Art Vandelay who wrote (4)	6/1/1999 3:51:00 PM
From: Allen Furlan	Read Replies (2) of 376

There is a real Art Vandelay? Did they steal your name for the Seinfeld show? Back to the subject, ccmc is a reasonable play. The proposal made in late March is for private investment group to merge the shares into their health care fund and offer current shareholders stock which can be redeemed for 16.5 cash. Company is unaffected from management viewpoint and will continue to operate as before. Not quite sure of advantages to acquirers of this method, but since this is not a tender and there are no issues of regulatory approval other than SEC, and the cash for later redemption seems to be available, I speculate that chances for completion are good. I just sent for investor package today. In the meantime my initial play on this is to sell November 12.5 puts short. Do your own homework and if anybody discovers other significant facts I would appreciate a post.

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