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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Exacctnt who wrote (84929)	11/6/2000 3:50:52 PM
From: Mama Bear	Read Replies (1) \| Respond to of 132070

"don't the short holders have to buy back those shares before the merger? " Why in the world would that have to happen? If BXM is being bought for stock the short seller will end up short the acquirer's stock. If BXM is buying another company with its stock, the short seller will be unaffected. Regards, Barb

To: Exacctnt who wrote (84929)	11/6/2000 5:52:35 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

Ex, Not as I understand it. I could be wrong, but, since they can be converted into the new shares, there is no need to buy back the old. It is almost like a split. The only time you have to cover the shares is when they physically leave Street name. In this case, shares held at Merrill will simply be switched to the new stock by whatever ratio. Similar to when I had calls on Ancor. I now have .56 or so calls on QLogic, with nothing but a bookkeeping entry. However, since I've never held such a short to conversion, I am not certain.