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Here is an analysis that was posted on another board that might help people understand this merger.

Has anyone else done an analysis they can share?

Person 'A' owned \$1000 of ZDZ at close 07/18/00 @ \$12.875 per share
Person 'B' \$1000 of ZD close 07/18/00 @ 11.375 per share
Use CNET close of \$32.1875 per share 07/18/00

Person 'A' has 77.67 shares of ZDZ x .5932= 46.07 shares of CNET= \$1483

Person 'B' has 87.91 shares of ZD x .3397= 29.864 shares of CNET= \$961.24
Person 'B' gets \$2.5 dividend per ZD share = \$219.78
Person 'B' gets +-\$3 per ZD share on sale of KeyMedia = \$263.74
Person 'B' = \$1444.76

Difference Person A & B= \$38.25
The ZD holder gets about 2.6% less

The big question for ZD holders, is the exact proceeds from the Key3media sale.
Getting <\$3 makes things worse for ZD holders, and the higher CNET
goes the more ZD holders will loose compared to ZDZ holders for example:
If CNET gets to \$42 and ZD holders get \$3 for keymedia
ZDholders would be %10 less than a ZDZ holder.
I think these numbers are good but always do your own calculations.

Please post any links regarding the use of proceeds from the key3media sale.

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