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The Empire District Electric Company Message Board

  • skipper2k2 skipper2k2 Jun 30, 1999 12:13 PM Flag

    Capt. Jack, don�t get mad, get even wit

    Don�t get hurt by listening to HYPE. Keep it simple with the technicians. Check out http://www.tradingdigest.net

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    • People are also speculating another bidder could come in on this one. MWHS is sitting on a fair amount of cash (Around $4.00 per share I think). I like this one.


      ttm

    • Here's one that looks pretty clean and
      quick:

      MWHS is being bought out for $19 cash and the deal is
      expected to close by end of January and MWHS is trading at
      a 5% discount. Here's a
      release:

      http://dailynews.yahoo.com/h/nm/19991221/tc/tech_microwarehouse_3.html

    • Thanx the info is very clear! I understand the adjustments to both.

    • I'm holding GIBG, but don't plan on picking up any more.

    • Now? I own it, and there's no way I'm selling it...

    • Page 36:

      WHAT EMPIRE STOCKHOLDERS WILL
      RECEIVE
      The merger agreement provides that each share of
      Empire common stock will be
      converted, at the
      election of the holder, into $29.50 of cash or
      UtiliCorp
      common stock with an Average Trading Price of $29.50, in
      each case, subject to
      adjustment depending on the
      value of UtiliCorp common stock prior to the
      merger
      as described further in this subsection and subject
      to the limitations described
      below under the
      heading "Adjustment to Amount of Cash or Common Stock
      Received
      by Empire Stockholders."
      Empire stockholders who
      elect to receive UtiliCorp common stock will
      receive
      for each share of Empire common stock they own a
      number of shares of UtiliCorp
      common stock equal to
      the Exchange Ratio, as defined below. Empire
      stockholders
      who elect to receive cash will receive for each share
      of Empire common stock an
      amount of cash equal to
      the Average Trading Price, as described below, of
      a
      share of UtiliCorp common stock multiplied by the
      Exchange Ratio.
      The term "Exchange Ratio" means:
      -
      1.341, if the Average Trading Price of a share of
      UtiliCorp common stock
      is less than $22.00;
      - A
      number, rounded to the nearest hundred-thousandth, equal
      to $29.50
      divided by the Average Trading Price
      of a share of UtiliCorp common stock,
      if the
      Average Trading Price of a share of UtiliCorp common
      stock is
      greater than or equal to $22.00, but less
      than or equal to $26.00; and
      - 1.135, if the
      Average Trading Price of a share of UtiliCorp common
      stock
      is greater than $26.00.
      The term "Average
      Trading Price" means the average of the daily
      closing
      prices for a share of UtiliCorp common stock on the NYSE
      Composite Transactions
      Reporting System for the 20
      trading days ending on the third NYSE trading
      day
      prior to the closing date of the merger.
      If the
      Average Trading Price is between $22.00 and $26.00,
      Empire
      stockholders will receive $29.50 worth of cash or UtiliCorp
      common stock for
      each Empire share. Empire
      stockholders will receive less per share if the
      Average
      Trading Price is below $22.00 and will receive more per
      share if the
      Average Trading Price is above
      $26.00
      In addition, because the Exchange Ratio is based
      on an average and will be
      determined three
      trading days before the closing date, it is possible that
      the
      value of the stock consideration received by an Empire
      stockholder at the
      effective time of the merger will be
      higher or lower than the value determined
      on the
      calculation date, depending on the price movement of
      UtiliCorp common
      stock after the Exchange Ratio is
      calculated. There can be no assurance that the
      price of
      UtiliCorp common stock will not decline from the market
      price used in
      calculating the Exchange Ratio.

      Cash will be paid for any fractional share of
      UtiliCorp common stock to
      which an Empire
      36<PAGE>
      stockholder would otherwise be entitled. The number of shares
      of UtiliCorp
      common stock each Empire stockholder
      will receive will be adjusted for any
      stock
      dividend, stock split, reclassification or other similar
      change relating to
      UtiliCorp's common stock.
      Each
      share of UtiliCorp common stock issued to Empire
      stockholders carries
      with it a preference stock purchase
      right issued under UtiliCorp's stockholders
      rights
      plan. See "Description of UtiliCorp Capital Stock--
      Stockholder Rights
      Plan" on page 55 for a description of
      these purchase rights.

    • Thanks for your information. I thought 29.50 was too good to be true!

    • Isn't that only for the stock portion of the
      transaction while for the cash portion (50%) we still get
      $29.50 and thus it is the average of the two for arb
      purposes.? They can't cut the cash part as the collar only
      effects the stock part Yes?

    • They screwed up. They've now issued another
      statement. I think the collar is 1.341 x UCU stock price, or
      25.3 right now. With the dividend, this is a pretty
      good discount, but you bear the risk of UCU going up
      (good) and down (bad)...

    • In the press release re the application by UCU
      and EDE for approval, it stated that EDE shareholders
      would received $29.50 in value in UCU shares for each
      EDE share. I was under the impression that if UCU
      shares dropped below a certain amount that EDE
      shareholders would receive less. Am I wrong? Would appreciate
      any discussion about this. Thanks.

    • View More Messages
 
EDE
29.94+0.43(+1.46%)Dec 24 1:02 PMEST

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