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From the Associated Press:

>>>JM has agreed to a $2.4 billion buyout offer from an investment group.

Under the deal announced Friday, the investment group led by affiliates of Hicks, Muse, Tate & Furst Inc. and Bear Stearns Merchant Banking would pay $15.63 in cash and securities for each of JM's 155 million shares.

The deal is expected to close before the end of the year.<<<

Well, that's good news, I guess. I know they were hoping for a buyout at about $20 a share a couple of years ago---that's when the stock got up to about $18. Should have sold then---glorious hindsight!

I wish this was an all cash deal. I'm wondering what the ratio of cash to securities will be.

Ill be glad to be out of this dog even though it used to be my husband's employer. Our 401K took a big hit with the asbestos mess which our subsidiary had nothing to do with.

Carol
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