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Strategies & Market Trends : Value Investing
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To: rjm2 who wrote (13042)9/5/2001 8:53:06 PM
From: Dale Baker  Read Replies (1) of 78682
 
Do you know the story behind the DCDC shares? They tried to buy LPAC last year for $4/share by accumulating a large chunk of LPAC shares. LPAC later passed a poison pill provision, so DCDC gave up.

Then, in what I consider a very wise move, LPAC negotiated the repurchase of 825,200 DCDC-owned shares UNDER the market price at the time.

So LPAC cut the shares OS by more than 10% and eliminated a dangerous overhang in outstanding stock.

This "insider selling" was actually a share buyback by management.
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