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Technology Stocks : Hyperion Solutions (HYSL) - An Analytical Gorilla? -- Ignore unavailable to you. Want to Upgrade?

To: Early Out who wrote (57)	8/21/1998 11:06:00 AM
From: Trader Dave	Read Replies (1) \| Respond to of 471

I don't have all the information I need yet. There were a substantial number of non-votes. In addition, although the vast majority of the shareholders that did vote, voted in favor of the merger, the merger involves the creation of a staggered board and that question was raised on the arsw proxy. Many institutions have policies that they must vote AGAINST the creation of a staggered board. (A board of directors where the elections are staggered over successive years.) So the deal isn't quite done on the arsw side. Almost, but not quite. I think arsw needs to scare up about 900,000 shares or so to finish the deal. I don't know if it closes today or not. If it doesn't it might take another week or so. Ah, how the market loves uncertainty. I didn't send in my proxy, I thought a non-vote would be voted with the management. That's what the form said, but perhaps it's different in a merger. TD