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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (30279)3/7/2008 3:33:53 PM
From: jayt   of 78692
 
Thanks Paul, that helps. It seems to me they are going to drain the cash out of it via special dividends. Supposedly it generates enough cash flow going forward, but 200+m of the 500 they are going to pay out was from tax loss gains. That will not be repeated. Seems that management would rather drain it of it's cash and let it go bankrupt in the future (if that happens).....then to sell out to a larger operator for a modest premium in the present. The way it's trading this seems to be the belief of those involved. RGRDS - JT
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