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

To: Keith J who wrote (117)	12/4/1999 7:57:00 PM
From: Keith J	Read Replies (1) \| Respond to of 376

Add GIX to the list....although you may need to act real quick on this one....check GIX news, fell 1/2 on Friday. KJ

To: Keith J who wrote (117)	12/11/1999 9:11:00 PM
From: Paul Senior	Respond to of 376

Hi Keith. FWIW, three potential cash buyouts I'm watching: SIMN 5 5/8. Offered $6.80. Insiders control and have rejected the offer. TFH 5 3/8. Mgmt. buyout @ 6.03/sh. Definitive agreement signed. Current status of offer unclear (to me). (I own as a value stock. tangible book value $11+, no long term debt. But neg. earnings.) PFG 9/16. Cash offer for $1/sh by National Banc. PFG says no further comment until DD, confidentiality agreement completed. (I own PFG at MUCH higher levels. Ouch.) Paul.

To: Keith J who wrote (117)	12/29/1999 6:32:00 PM
From: Keith J	Read Replies (5) \| Respond to of 376

Updated list, with some new additions (BGF and CGE completed, USW removed due to reduced arb gap): 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. CARL - around $2.45 offer, projected close by end of Febuary. COOK - $5.25 offer, no other info. DENT - $9.50 offer, projected 1st quarter close. GIBG - $10.25 offer, DOJ requested additional info, tender currently expires January 5th (likely to be extended). 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. TFH - $6.03, expected shareholder meeting January, very small cap. VIAS - $9 offer, DOJ antitrust challenge, extended to January 10th. WDN - $23.25 offer, no shareholder vote yet, possible mid-February close. 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. NVX - $7, $6.97 cash, depends on drug approval. STRX - $10.50 minimum, could be up to 50% cash, .525 shares WAXS. HRD - $79, shareholder meeting February 10th. PALX - $9 cash and IFCO stock, not comfortable with proposed capital structure. PBSF - $29, about 50/50 cash/stock with CYN. STOCK ONLY TVGIA - .6573 shares of GMST for each TVGIA. UMG - Depends on T stock and UMG shareholder preferences, awaiting regulatory approval. Other Potential Plays (i.e., in limbo or spinoff related): AVDO, PFG, SIMN, DZTK/PFSW, IDTC/NTOP. KJ