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Strategies & Market Trends : Arbitrage Plays -- Ignore unavailable to you. Want to Upgrade?

To: Keith J who wrote (98)	11/9/1999 11:47:00 PM
From: James Kibler	Read Replies (1) \| Respond to of 376

Keith...other deals I was made aware of thru MERGER FUND.....HANNAFORD BROS--HRD.....Premark --PMI.....OCE Medical----OXE.....Roberts Phar---RPC....I know the fund had positions in these as of 10-12.....they also list a position in WDN and it goes x-div soon.....FWIW....JIM

To: Keith J who wrote (98)	11/10/1999 1:14:00 PM
From: Paul Senior	Read Replies (1) \| Respond to of 376

Keith, nice job developing that list. From the deals I'm aware of, they are all there. I also have on my watch list, PBSF, a bank @$27 3/16, being acquired by CYN (another bank) for $29 in stock and cash. Est. completion: 1Q '00. Spread may or may not now be too narrow to provide a decent opportunity. (I was considering PBSF because it would have provided an entry into CYN, a stock I would be willing to keep - if it were @$31 at deal completion & where it was selling at time of deal announcement. CYN is now about $39 and not a value to me.)

To: Keith J who wrote (98)	11/12/1999 4:51:00 PM
From: Allen Furlan	Respond to of 376

Keith, good list , thanks. Some comments and additions. Boss/mak looked too good to be true. After calling IR and re reading 8K found out that mak gets the cash as part of this convoluted deal. Boss is a Ledecky company which had huge recapitalization last year, allowing big holders to walk away with cash and stock holders to end up with big time debt, enough said. Umg/T is cash and stock. At T below 51.3 the cash is 36.27 and stock .95 shares. Very large discount for a very reasonable chance of completion, but probably not for another 5 or 6 months. Must hedge. FPC by Cpl, is long term utility play. Stock and cash. At todays prices about 14% discount. Way to play this is to sell puts and squeeze out premiums each month. Best bet znco by MAY. Bulletin board stock owning Dept stores in Utah, I am in at 20 1/4 for 22.5 by EOY, hopefully. Hard to buy. Almost have to pay ask to get any. Bloomberg, Dec 99 issue "How to hook big merger gains, play post announcement price anomalies" Major point is to wait for dust to settle. I guess I agree with that and find ssi,mam,osu,bgf and znco to have best risk/reward characteristics based on shorter term plays. Good luck to all and lets keep this thread going.

To: Keith J who wrote (98)	12/4/1999 5:08:00 PM
From: Keith J	Read Replies (3) \| Respond to of 376

Updated list, with some new additions (SSI and OSU completed): CASH ONLY AAC - $4.90 offer, projected close end of 1st quarter. AATT - $25.50 offer, financing not in place and no shareholder vote yet, anticipated January shareholder meeting. ATPX - $14.50 offer, projected close by end of January. BGF - $31.50 offer, almost completed. CARL - around $2.45 offer, projected close by end of Febuary. CGE - $12.50 offer, financing not in place and no shareholder vote yet, anticipated close 4th Qtr 99. DENT - $9.50 offer, projected 1st quarter close. GIBG - $10.25 offer, tender currently expires December 8th. HERBA/HERBB - $17 offer, financing not in place and not enough tendered yet, extended to late January (and could be extended again). KROG - $18 offer, projected February close. LUCK - $12 offer, financing may or may not be in place and no shareholder vote yet, anticipated close 1st half 2000. PLAY - $8.50 offer, PLAY shareholders have approved. VIAS - $9 offer, DOJ antitrust challenge, extended to December 20th. WDN - $23.25 offer, no shareholder vote yet. CASH AND STOCK BOSS - 1.25 shares MAK; $13.50 cash (up to 50%). CTZ - $52 share cash and FNF stock, collar on FNF, anticipated close 1st Qtr 2000. PALX - $9 cash and IFCO stock, not comfortable with proposed capital structure. STOCK ONLY TVGIA - .6573 shares of GMST for each TVGIA. UMG - Depends on T stock and UMG shareholder preferences, awaiting regulatory approval. USW - $69 in QWST stock, subject to collar, USW shareholders have approved. KJ