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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: JAS who wrote (769)	10/9/1998 10:28:00 AM
From: the Chief	Read Replies (2) \| Respond to of 4467

Hi JAS. And to top it all K announces a takeover of LAO. We know they hold a fair number of shares already. Based on their offer it places K with a value of about 3.30. So what happens... well LEO is up .35 today, bring their value up closer to where K is trading. Actually you don't extrapolate up .....you extrapolate down on a "takeover"! So K was $5.00 they were offering 1 K for every 2.65 LAO which meant that LAO was worth $1.88 "for amoment"!<ggg> Thats why LAO jumped the .35!! the Chief