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Technology Stocks : Gemstar Intl (GMST) -- Ignore unavailable to you. Want to Upgrade?

To: unclewest who wrote (567)	10/6/1999 3:59:00 PM
From: JAPG	Read Replies (2) \| Respond to of 6516

I am still digesting the valuation of how much GMST is paying for TVGIA. According to the press the range varies from 9-$7bn. 1)But as I type the market cap of TVGIA is $3.59bn. 2)Also according to the details of the deal 1 share of TVGIA will be exchanged for 0.6573 shares of GMST. Letïs see: there are 77.12 million outstanding shares of TVGIA times 0.6573 gives me that they will be exchanged to 50.69 millions shares of GMST, this times $74.5/share gives me a market value of $3.78bn for all outstanding shares of TVGIA. Anyway I look at it, the purchase price doesnït come near the touted deal value. Am I missing something?. If not, I believe that it is a good deal. Regards JAPG