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To: Peter V who wrote (8399)11/5/1997 9:05:00 PM
From: Jess Beltz  Read Replies (2) | Respond to of 25960
 
Peter, in which case the bondholders are simply short sellers who have purchased a cap (the conertibles) to protect their position. This in and of itself in no way implies any kind of market manipulation, and they are exposed to serious risk on all short sales transacted at stock prices below $47. The theory was that the bond issue was done to manipulate the share price. The thoery does not stand.

jess.


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