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Strategies & Market Trends : Arbitrage Plays -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (2)	5/28/1999 2:25:00 AM
From: Paul Senior	Respond to of 376

Anyone looking at Jackpot acquisition of Players International? J is offering $6.75 cash + $1.50 of J stock for ea. sh. of PLAY. (Total $8.25/sh) PLAY up a little recently to 6 7/16. Just guessing that deal, if it were done, would be later this year. Need financing/loan approval for J and gaming (states) reg. approval. J (PLAY) may have some difficulty in LA where they (PLAY) were involved with some nefarious deeds apparently. If it goes, it seems like a good arbitrage return. J stock also, fwiw, may be undervalued at current price (lots of cash, stock buyback in place). I have no position in either company. Just looking for now.