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

To: David who wrote (286)	2/28/2001 6:59:05 PM
From: Paul Senior	Read Replies (1) \| Respond to of 376

I'd guess the NWS and CCN deal might work out. For now, I'll put those two on my watch list to try to grub an optimum CCN entry point. ------------------------------------- Gentlemen (and Ladies, if any), I bring to your attention GTA, in which I have a small position: biz.yahoo.com "The real estate investment trust estimates total liquidating distributions to common stockholders will be $10.43 to $14.18 per share and will be paid within 12 to 24 months following stockholder approval." I don't understand how they can determine the minimum to the penny. The stock's up today to $9.04. Looks like they will eliminate the dividend. Worst case return - based on THEIR estimates - would be 15% (not compounded) if the entire cash out were paid in say, the 26th month. (includes my unsupported guess of 2 months for stockholder approval) If the numbers and sales potentials are realistic, and if the stock settles down a bit, there might occur a favorable point to start or add to this one too.

To: David who wrote (286)	3/5/2001 5:41:51 PM
From: Allen Furlan	Read Replies (1) \| Respond to of 376

David I looked quickly at this. My reading of August 8K leads me to believe that this deal currently has no premium. Deal is 85 cash or 1.9318 NWSa, with 40/60 condition on election. Stock at 85.4=34 and cash at 1.9318.6=1.1628 Deal might have been worth 85 when NWSa was about 45 but is currently worth slightly more than 69. Of all the arbitrage plays now available I think the mcdt/mcdta offers the best opportunity. Paul's gta looks interesting but I will put in a low ball gtc at about 8 dollars.