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

To: Keith J who wrote (133)	12/29/1999 7:30:00 PM
From: Keith J	Respond to of 376

Make that $6.97 in BAX shares, not cash, for NVX. KJ

To: Keith J who wrote (133)	12/30/1999 9:43:00 AM
From: Bananawind	Respond to of 376

Keith, thanks for the updated list. Here's a couple more recent cash acquisitions I show in my 'buyouts' portfolio that were not mentioned: ELTE 11 cash JOS 25.25 cash VDIM 15 cash Kevin M.

To: Keith J who wrote (133)	1/2/2000 12:24:00 AM
From: Paul Senior	Read Replies (1) \| Respond to of 376

Happy Holidays, guys. KJ, here are some adds to your list. Thanks for maintaining and publishing. LII buying SVE (Reply #129) CNXT (66.375) buying MAKR (42.75) for .66 sh. CNXT (= $43.80 as of last close). OLDB (32.4375)is buying PERM (17.375) for OLDB stock worth 20.59. A merger of two Evansville,Ind. based banks. WAXS (19.25)is buying STRX (7.906) for .525 sh WAXS (=$10.1). This one looks interesting to me. Here's why: WAXS may be setting out to guarantee "a minimum value of $10.50" in WAXS stock including-maybe- some cash. So far there's only an intent to merge - there's no definite merger agreement. biz.yahoo.com I haven't done enough research to make a decision. (I'm looking at a straight buy of STRX.) Anybody got an opinion on this deal? Paul Senior

To: Keith J who wrote (133)	1/10/2000 5:37:00 PM
From: Allen Furlan	Read Replies (2) \| Respond to of 376

Keith, re AATT. Received my proxy today. Looks like firm financing commitments are in place. With about 3% in three weeks I may add to my position. Comments by anyone appreciated.

To: Keith J who wrote (133)	1/28/2000 10:28:00 PM
From: Keith J	Read Replies (4) \| Respond to of 376

Updated list, with some new additions (CARL completed, VIAS acquisition terminated): CASH ONLY AAC - $4.90 offer, projected close end of 1st quarter. AATT - $25.50 offer, should close soon. ATPX - $12.75 unofficial offer, fed fraud issue, projected close by end of June....big spread, but high risk regarding completion. 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 February 3rd (may be extended). HERBA/HERBB - $17.81 offer, financing not in place and not enough tendered yet, extended to February 14th (and could be extended again, personal opinion is this gets completed in February). KROG - $18 offer, projected February close. LUCK - $12 offer, shareholder vote in February, anticipated close 1st half 2000. PLAY - $8.50 offer, PLAY shareholders have approved...still awaiting regulatory approval. TFH - $6.03, expected shareholder meeting sometime, very small cap. TSII - $15.25 offer, can walk away if no financing by end of January, late April shareholder meeting expected. WDN - $23.14 offer, shareholder vote soon, possible mid-late February close. CASH AND STOCK BOSS - 1.25 shares MAK; $13.50 cash (up to 50%), late February vote. CTZ - $52 share cash and FNF stock, collar on FNF, anticipated close 1st Qtr 2000....votes in early February...still undecided on whether will be $52 or less due to collar...but CTZ could walk away if less than $52 (which I find unlikely given the market conditions). NVX - $7, $6.97 BAX stock, depends on drug approval. STRX - $10.50 minimum, could be up to 50% cash, .525 shares WAXS.....no official announcement yet. 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 TWX - 1.5 shares of AOL for each TWX, expected close by year end. FFD - .3164 shares of CCL for each FFD, expected completion by June. SPRI - 1.085 shares of LEAP for each SPRI (small cap). 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 or arb related): AVDO, SIMN, THX, DZTK/PFSW, IDTC/NTOP, MKTY/PLUG. KJ