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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Tim Davies who wrote (6713)	8/9/1999 10:01:00 AM
From: scouser	Read Replies (3) \| Respond to of 150070

edit. MVEE from the PR, the deal values MVEE at .49 ( 12x fridays close) now, but will be at the value of EINI ( now .96 ) after the deal. The merger will occur shortly after shareholder ratification by both companies. EINI will be the surviving entity and each 12 shares of MVEE will be exchanged for approximately 1 share of EINI, which will result in EINI shareholders owning approximately 50% of the combined entity and MVEE shareholders owning approximately 50%. Based upon EINI's Friday, August 6, 1999 closing price of $0.843, the agreement values MVEE at $0.49 per share, a nearly 100% premium to MVEE shareholders, based on Friday, August 06, 1999's closing price of $0.041. This transaction is expected to be accretive to both EINI and MVEE shareholders. The combined company is expected to have a pro forma market capitalization of approximately $36 million. A combination of the current management of both companies will operate the new combined entity.