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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (7018)	3/1/1999 9:06:00 AM
From: Mr_X	Read Replies (1) \| Respond to of 18998

Mr. Pink- An arbitrage situation for your consideration. Philips Electronics has proposed a $17 cash deal for VLSI, a second tier chip maker. There seems to be implicit in their proposal a threat to start a hostile tender offer if Philips is rebuffed. VLSI has no takeover defenses at all. They are a Delaware company, and have a single-class board. Philips has given them until Wednesday to respond, and today's WSJ says Philips plans to come with a tender on Thursday. Why would VSLi trade at such a large discount to the bid? It seems to good to be true. Am I missing something? Also- VSLI has in the past traded over $30, in more optimistic times. This year's earnings suck, but analyst estimates for next year are around $1/share. Philips has a $25 bil mkt cap, and would pay for this out of petty cash.

To: Mr. Pink who wrote (7018)	3/1/1999 9:33:00 AM
From: steve host	Read Replies (2) \| Respond to of 18998

SLVN missed earnings today 37 cents v 49 cents expected --- again great work Mr. P

To: Mr. Pink who wrote (7018)	3/1/1999 1:07:00 PM
From: marketmover	Read Replies (1) \| Respond to of 18998

He is very influential! Where do we cover this PDX-POS?