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To: Geigartt who wrote (3573)	1/30/1999 8:01:00 PM
From: wily	Respond to of 7382

Buyout premium is calculated as what was paid for the company in $/share vs what the stock closed at before the announcement. GCTY closed at $75 on Wednesday and was bought in an all-stock (i.e. no cash) deal for the equivalent of I think $112 in Yahoo stock. Since Yahoo opened higher on Thursday, GCTY also opened a bit higher than the buyout price (opened at $115). Percentage-wise, it's (112-75)/75 = 49.3%, so I lied a little. I ball-parked that the sympathy plays would be a good bit less than the buyout premium, but a ball-park is a big place... The Sympathy Plays: Wed Subsequent Friday Stock Close High %Gain Close %Gain TGLO 39 1/2 75 89% 66 67% XMCM 39 9/16 63 1/2 61% 58 47% EWBX (the dog) 38 1/2 55 43% 49 27% As you can see TGLO hit it handily out of my ball-park. EWBX was an obedient dog. I don't know why TGLO went so crazy--maybe it's a good company or something?? wily