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Non-Tech : HOMEBASE (HBI)

HBI 6.470

0.0%

Dec 1 4:00 PM EST

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To: Sergio H who wrote (51)	9/13/1999 9:16:00 AM
From: BD	Read Replies (1) of 99

Sergio, As you know this company has been rumored to be a takeover target on and off four the lasst two years. From the 10 range down to the 5's. Your guess is as good as mine here. CEO's comments last qtr. were generally neagative. However I read the comments as intentionally being negative. Why would he do that? My speculation is that they have an offer or feel they would take an offer for an amount less than the original target price of $14 (two years ago this number was mentioned). Offer now may be 7 or so and to gain shareholder approval price would have to be depressed, remember it ran up close to 7 on rumors before earnings. Anyway downside is limited here. But then agin company isn't going to set world on fire either. My guess is 70% an eventual buyout by Lowes.

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