Sovereign Bancorp ( SVRN ) Message Board

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Non-Tech : Sovereign Bancorp ( SVRN )

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To: Questerr who wrote (118)	10/28/1999 11:34:00 PM
From: jerryriti	Read Replies (1) of 143

I would suggest that you evaluate SVRN on the basis of it having been a prime takeover candidate. The question was where between $18-24 would it be acquired. The Fleet purchase may gratify Mr. Sidhu's ego, but the current share price now reflects that it is no longer a takeover candidate. I might add that this coming year will see a resurgence of bank acquisitions and mergers yet again so that with SVRN off the radar screens for acquisitions, it share price may continue to suffer. Having exited during the firestorms that raged when SVRN got intertwined with the internet(which got Mr. Sidhu a ticket to a TV appearance) I unfortunately re-entered as the price came down to earth. In retrospect, I can only assume that others knew what I only suspected that Mr. Sidhu would never maximize shareholder value by letting the bank go! Good luck to all and maybe Mr. Sidhu will weave the magic that some feel he does in fact possess. According to my record this bank has appreciated approximately 40-45% in the past 5 1/2 years. Not a stellar performer in what was one of the hottest areas in the market, i.e, regional banks! Sure Mr. Sidhu has big plans, but thus far they have not included the best interests of shareholders.

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