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Biotech / Medical : Cistron Biotechnology(CIST)$.30 -- Ignore unavailable to you. Want to Upgrade?

To: PeterR1700 who wrote (1833)	12/15/1998 9:06:00 AM
From: Walter Morton	Read Replies (1) \| Respond to of 2742

The merger I am referring to is in post 1831. CIST does not have a stock price that is high enough for them to do a no cash deal. I think it would take all of CIST's outstanding shares plus about $4.5 million to do a $10.3 million dollar merger with HMGN. The good thing about that is that it would leave CIST with about $4 million dollars in cash. What I don't know is, with a merger, what the number of share outstanding would be. Would it be CIST's 23 million or HMGN's 9 million. As you know, that would make a big difference in the earnings per share and the stock price. Does anybody have any idea how that would work?