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   Non-TechMergers anyone hear of rumors

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To: Bram12345 who wrote (13)6/25/1997 8:42:00 AM
From: Lee W. Rath
   of 16
Check out this clip from the following news article:

"In April, Waban and Kmart Corp(KM - news) called off talks to merge HomeBase with Kmart's Builders Square division.
Under the deal, Leonard Green & Partners LP, an investment banking firm, was to be the chief stockholder in the new

Kmart declined to say whether it was considering a combination with Hechinger. The company has continued working with
Leonard Green to sell Builders Square, although it would disclose any possible suitors, said spokesman Robert Burton. "

My friend has also told me to keep an eye out for the name Leonard Green, because he is a major shareholder of KM... here we go ... what about this? What if Green is buying Builder's Square from KM and is buying Hechinger's as well? Or maybe he will help KM buy Hechingers, then buy Builder's Square and Hechingers from KM?

I also wonder how strong the possibility is that Sears is really the main suitor. My friend told me they were out of the picture at this point. We're now down to 2 1/8 ... I'm definitely in under $2!

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To: Lee W. Rath who wrote (14)7/18/1997 2:09:00 PM
From: Allen Furlan
   of 16
If you didnt get in yet consider HECHH the 5.5% bond of 2012. I have been holding for a year and recently bought more. My rationale as a bond holder was that a probable scenario was a continued slide in sales but intermediate term continuation of dividends based on relatively solid balance sheet and sufficient cash if one adds back in depreciation to negative earnings. In case of foreclosure my estimate was 20 cents on the dollar and the bond was trading at 28 cents on the dollar. Now with buyout the bonds should be redeemed, hopefully at par. The dollar figure quoted in the press will pay about 130 million to stock holders and 370 million to debt holders. If the deal collapses the bonds will probably collapse from 44 back to 27-28 which is less risk than the stock going from 2.75 to 1.5. I received no callback from the company and need to check the provisions of the identure but most of the time there is a provision that bonds are redeemed on change of control.

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To: Keith Anderson who wrote (1)2/28/1998 5:37:00 PM
From: Kevin G
   of 16
Friday, Feb 27 1998 5:20PM EST
Reply # of 640

Thursday, Jan 29 1998 11:57AM EST
Reply # of 634

Any more rumors on a buy out. Sure sounds like they're positioning Themselves for one. Comments


Up big on over 10 X normal volume, SEC filings all getting caught up,and over 1,000 CALL options traded today with a PUT volume of ZERO!

If that does not give you a warm and fuzzy feeling, check your pulse.

GO! CLFY... 8- )

Kevin G

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