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To: FUZFO who wrote (24160)	10/12/1999 10:47:00 PM
From: zurdo	Read Replies (4) \| Respond to of 27722

FUZ, this is a very interesting tender offer....Obviously this company knows something we do not know...for one thing, it must be pretty confident ($11,275,000 worth) that Navarre will not be below 10.25 on October 19....Also interesting is the fact that they allow themselves the right to extend the offer....This brings up several thoughts for conjecture... Why is this company so interested in picking up such a massive chunk of this stock if it is going to tank, as some of our colleagues are so fond of telling us will happen?? It does not compute, does it??....The closing date of the offer...Oct. 19...is also interesting......Perhaps they know that the IPO date is next week, not this week .... ( Pricing on Monday, IPO on Tuesday?) as Annette was saying earlier.....Another possibility is that they shorted a huge number of shares and may want to be ready to cover at their own set price level.......Very interesting!!!!!