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Gold/Mining/Energy : Air Canada is taking off? -- Ignore unavailable to you. Want to Upgrade?

To: check737 who wrote (851)	9/24/1999 3:50:00 PM
From: swidnik	Read Replies (2) \| Respond to of 1033

The fact remains that Canadian has the Asian routes. Sorry. Hence, in my opinion, CA is worth more than $00.00. Sorry again. I don't exactly recall the terms of the deal. Are AC shareholders paid cash, or is there a possibility of getting new AC shares? thanks in advance, swid

To: check737 who wrote (851)	9/24/1999 11:49:00 PM
From: Alomex	Read Replies (1) \| Respond to of 1033

The issue is paying $2.00 for bankrup Canadian with all it's baggage and $ 8.25 for Air Canada with its momentum, cash and labor stability. You might feel that $8.25 is too little for Air Canada, but AC is worth what the market is willing to pay, and it was trading under $8 until CA step forward. Only after CA stepped in did it edge slightly upwards to $9 and change. Frankly, if I owned AC I would settle for an offer around $9 and then hold on to my ONEX/AirCo shares, as the combined operation is worth more than the simple sum of AC and CA share prices.