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To: JGoren who wrote (36396)7/21/1999 12:49:00 PM
From: alias  Read Replies (1) | Respond to of 152472
 
"assuming the offer goes effective in the morning, it will be priced after the close
tonight"

I confess my ignorance in these matters. So, if there is institutional selling today that drives the price down, will the new shares be dumped on the open market tomorrow AM at the ask price of today's closing?



To: JGoren who wrote (36396)7/21/1999 4:37:00 PM
From: Scott Overholser  Respond to of 152472
 
the offer was yesterday - tuesday.

here's the chronology as i understand it:

7/19 earnings
7/20 public offering of 4.6 million shares
7/21 addition to s&p 500

as i watch my quote machine i see many big trades. mostly 100,000-200,000 share trades. volume 30 minutes before the close was about 6 million shares. volume at 30 minutes after the close is almost 12 million shares. what gives?