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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: brian h who wrote (1944)	2/16/1998 12:44:00 PM
From: Thomas	Read Replies (1) \| Respond to of 10852

Brian, is the ONSI deal scheduled to close on Tuesday? I had not heard that. In fact my emails to ONSI IR have so far fallen on deaf in-boxes. Needless to say, the closing date is very important to an ONSI shareholder, as it will determine the "Determination Price" at which our ONSI shares are converted into LOR shares. In other words, if you "knew" the deal was to close Tuesday, you could calculate the value of the LOR shares you would get for your ONSI, and could therefore lock in an arbitrage (riskless, by definition) profit. So, if you have information about the closing date, please do let us know. Thanks. Does anyone else have information on this question? As an aside, market makers do not "make" a stock move in price. The market does that, and in this case, it is reasonable to assume that there is a fair number of arbs playing the ONSI/LOR game. I do agree with your conclusion though, LOR should move to the upside once the ONSI deal goes through, because of the short covering that should occur as the arbs trade out of the deal and pocket their "crumbs" (I wish those short position numbers came out more frequently. . .). Cheers, Thomas