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Author: lbolt One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 16  
Subject: Allied News Release Date: 6/2/1998 8:21 PM
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I just read the Allied news release in which the directors of Allied state that they are trying to negotiate a merger with Nationwide at $48.25 per share. They recommend not tendering stock on the $47.00 Nationswide tender until they have completed their talks.

fool on!
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Author: jskrause Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 12 of 16
Subject: Re: Allied News Release Date: 6/3/1998 12:07 PM
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< I just read the Allied news release in which the directors of Allied state that they are trying to negotiate a merger with Nationwide at $48.25 per share. They recommend not tendering stock on the $47.00 Nationswide tender until they have completed their talks. >

My understanding was that the Allied board urged its shareholders not to tender while they tried to negotiate a better deal. Upon this announcement Nationwide immediately said they would offer $48.25. My assumption is that the Allied board wants even more than that or they would have taken the already offered $48.25. I wonder which one of us has the right "read" on this.

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Author: lbolt One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 13 of 16
Subject: Re: Allied News Release Date: 6/3/1998 5:27 PM
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You may be correct in your assumption that price is the issue. These are outside directors which are instrumental in the negotiation, and that is the reason for the 14D filing. I would certainly think that there could be other issues relating to the terms of the exchange other than the total price, even for those not associated with management. Their fiduciary duty should direct them to cut the best deal for shareholders as a whole. I have my fingers crossed for more money.

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