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To: XBrit who wrote (67852)	2/15/2001 10:30:00 AM
From: LLCF	Respond to of 436258

An example of Heinz's observation that bears can now speak out and not be put on ignore so quickly. Scary article: <So here's how the boys at Morgan Stanley have gotten around the problem. Instead of having Agere issue just 222.6 million shares and keep the proceeds while picking up Lucent's debt directly, Morgan Stanley will itself acquire, in effect for free, 147.65 million additional shares of Agere stock, then sell them in the IPO and use the proceeds to buy Lucent's outstanding debt in the public market.> These guys aren't stupid... the days of equities are over, ask where the interest payments are and you'll find some real return. dAK