Bolt, Beranek & Newman [BBN] Message Board

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Technology Stocks : Bolt, Beranek & Newman [BBN]

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To: Judy Muldawer who wrote (285)	5/20/1997 6:46:00 PM
From: Ish	of 307

Judy, I'm changing my strategy. Instead of waiting 'till the last dog dies I'll probably sign my offer May 29. Still waiting for Bill Gates. I got my tender offer today and we get $29 cash. Another bidder? How? Even if someone else was interested, by now GTE probabily has close to 50% of the shares. Why? Consider option bonuses to management that have been granted since Conrades took over, plus most of the board are long time affiliates of BBN with oodles of stock and options. Your company is asking to be taken over and GTE says ok plus we will give you a position, you gonna give them your shares or argue? I'm basing some of this on the fact that BBN has gone from 12 million shares to 22 million shares in the past few years. Ok there was a dilution, but not that big. Also look at all who have bought BBN under $29 and are happy as clams. If you ran a mutual fund and bought 300,000 shares at $16, you could tender and be a hero. GTE is a very well run company that will make money from the various parts of BBN, they may even spin off part of BBN. Bill Tell me I'm wrong, Roy, PLEASE

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