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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Market Tracker who wrote (10257)6/18/1998 1:49:00 PM
From: Ed Zhao   of 18691
 
Re: DIS to buy 43% stake in SEEK -

What exactly happened was:

"SEEK acquired privately owned Starwave for 25 million shares of SEEK stock, valued at $850 billion."

Then there's two possible cases behind the deal:

1. Starwave fits SEEK's need, and SEEK paid a premium in acquiring the company. Disney happened to be the ownner of Starwave Corp.

or

2. Starwave does not fit SEEK's business strategy very well but they bought it anyway to get a correction with Disney.

I think two is a better explanation.

XZ
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