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To: Scott Mc who wrote (4197)6/4/1998 12:24:00 PM
From: IJReilly  Respond to of 78542
 
scott-

I looked at the DEEP deal, but I don't see the arb. It looks to me like you're paying $14 and change, and will get $14, plus the rights. The rights, assuming all the options are exercised (since they're priced below $14, I assume they will), get you about $3.35 worth of common and preferred for $3.25. Am I missing something or did the prices line up better before?

Thanks

Mike