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To: long-gone who wrote (72794)7/3/2001 2:46:04 PM
From: Horgad  Respond to of 116791
 
You are probably right. I thought there was a fairly large discount on HM since the deal, but I just did the math and the discount is fairly small. Currently HM is at 7.6 and ABX is at 14.84. The deal is for 1 share HM converts to .53 shares ABX. So HM should be 14.84 * .53 = 7.865. Which means HM is currently at a 3.5% discount. So the market thinks there is some small risk of the deal falling apart, but not much.