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To: Ian@SI who wrote (571)12/11/1998 7:16:00 AM
From: semi2000  Read Replies (1) | Respond to of 1214
 
Ian thanks for your comments,

agree to most what you say. However I think finally if it is zero sum game then

shareholders gain (in case of no rights) =
shareholders gain + management gain (in case of rights)

Thus shareholders gain is likely to be LESS than without rights. Agreed, some management discussion will raise price but think of them as self imposed brokers in takeover talk.

Typically unless he is Bagley or Morgan, using management as ace is liking pulling a truck with a thread (if you know what I mean)

Thanks