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Strategies & Market Trends : Low Price/Cash Ratio Value Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (359)	3/7/2000 2:06:00 AM
From: Elroy	Read Replies (1) \| Respond to of 1931

I think this sounds fishy. The three main shareholders are tendering ALL their shares, and the deal is oversubscribed, so you can only count on getting 2/3rds of your shares tendered at $7.25, and you are stuck with the remaining shares. Wonder why they extended the tender since the deal is oversubscribed already. If 87% of the shares are tendered, but the company is only planning to buy back 66% of the total shares, what is the advantage of extending the tender? This seems very strange to me. Elroy