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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: mahler_one who wrote (36167)	10/8/2001 9:07:40 AM
From: Sector Investor	Read Replies (1) \| Respond to of 42804

I've been trying to figure that out - and I am not the right person to ask. We need to get some series 7 person, I guess. There are 12 Million physical LMNE shares outstanding, but Longs own about 18 million shares (6 million short). Only 12 million shares will get MRVC shares. I don't know how that situation unravels without shorts covering, but there must be a way or they would have covered by now after MRVC announced the intended merger. At 0.43 ratio and LMNE at $1.95 on Friday, MRVC should be at $4.53, right? From Yahoo! I think it's $93 million in cash on LMNE's books as of Q2. messages.yahoo.com

To: mahler_one who wrote (36167)	10/8/2001 12:06:32 PM
From: Dee Jay	Read Replies (1) \| Respond to of 42804

M1, MRVC is not transmutable into LMNE. So far as I can tell you cannot say "well, this here share of MRV stock is equal to 1.xxx shares of LMNE so here, take it and my short position in LMNE is covered". Short seller borrowed LMNE stock and short seller will have to replace it with LMNE at whatever price it takes to buy that UNLESS SS has already covered the short sale by a purchase that hasn't been used to close out the short sale. But why would anyone do that? Above is based on deduction and not any particular requirement that I can point a finger at. Dee Jay