SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Biotech / Medical : ICN Pharmaceuticals
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Clouseau who wrote (1009)6/19/2000 8:18:00 PM
From: Bret Masterson  Read Replies (1) of 1029
 
It's REVOLT time

Dave,

I agree wholeheartedly that this latest "scheme" is a shameless attempt for WP to come up with something "acceptable" to Panic, so that they would be able to get involved with some lucrative IPOs. It's completely ridiculous that a company announces a "shareholder value creation initiative" and the stock instantly drops 20%+. Completely shameless.

On the brighter side, I hope that this latest move is the catalyst to bring shareholders together to finally ride ourselves of this value destroying managment team. I actually bought some shares at 26 today, as I think that people are finally pissed off enough to do something. Institutions own 38%, which means that not that many others are needed to get to the 50% mark to oust these guys.

My cynical prediction is that Panic will offer shares in the new IPO to the institutional holders in an effort to buy them off, banking on the fact that the institutional investors will be enticed by the potential for a quick pop in the spin-off stock. Hopefully they are not dumb enough to fall for that stupid trick. They ALREADY own the company. Why be forced to invest more money to buy something you already own. If they want a quick pop, VOTE PANIC OUT, then watch the stock shot up.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News