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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Lucinos who wrote (60473)	3/29/1999 4:39:00 PM
From: Robohogs	Read Replies (4) \| Respond to of 61433

The difference is now 4.6 points down from 9 points 2 weeks ago and is actually fairly tight. The 4.6 points would represent an annualized return of 23.5% if the deal closes by June 30, 1999 (109 13/16* .825 = 90.6 / 85 15/16) raised to the power of 4 (12 months in year divided by 3 mos til closing). This spread would be closer to 15% annualized in a more liquid M&A arb market and will probably close to 12-15% annualized once European and HSR clearances occur. FYI, a 12% return at current levels would yield a $88 1/16 price for ASND or a premium of 2.5 points.