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The Empire District Electric Company Message Board

  • Faux_GTX Faux_GTX Feb 25, 2000 10:18 PM Flag

    UCU All time low

    It's my understanding that as UCU drops so does
    the offer for my EDE stock. As I calculate it, I will
    be offered around $21 per share if it were to close
    today. There was no bottom end set in this deal. Don't
    know about anyone else but I missed that somewhere.
    29.50 seemed like a good deal at the time, but as I
    look back now I voted wrong. If this proposal is not
    complete by the end of the year don't we have the option
    to vote again? I will be voting differently given
    the chance.

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    • Not necessarily.

      Missouri PSC recently
      gave approval to Transalta (in Canada) deal. However,
      word I heard is that MPSC Staff is recommending
      AGAINST St. Joe L&P deal and it was perceived to be more
      simple and straightforward than Empire's. I believe the
      Staff testimony on EDE is due to be filed by mid-June.
      Who knows what may happen?

      P.S. Unfortunately,
      I don't think you'll have another opportunity to
      vote on THIS deal.

    • As I understand the deal, you get 1.34 shares of
      UCU for each share of EDE you own. Today, UCU is
      trading at about $19....far up from its 52 week low.
      Therefore, today your shares are worth 1.34 X 19 or $25.46.
      Now that ain't 29.50, but it also ain't the $22 that
      EDE is trading at today.

      Good arbitrage play,
      depending on your outlook for UCU.

    • gonna become someone else's takeover target!!! good luck to all longs.

33.98+0.10(+0.30%)Aug 29 4:02 PMEDT