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Strategies & Market Trends : Value Investing

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To: JRH who wrote (8616)	10/12/1999 5:09:00 PM
From: Wright Sullivan	Read Replies (1) of 78702

rth(JRH): I don't have the answer but I am in a similar situation (a shareholder in a public company going private). One of my value favorites, CNSO (Conso International), is being bought out by a group sanctioned by management at a nice premium to the current market price but still well below what the business is worth. While I'm making an acceptable profit, I am disappointed because I think someone else is going to benefit much more over the next couple years, once recent investments begin to pay off. In CNSO's case, management already owns a significant stake and isn't selling, just forcing public shareholders to sell out to a private investment group (albeit at a premium). I recall Wayne Crimi had a situation with Sbarro which may more resemble yours, where mgt was buying out the company at a low price. Management is supposed to act in the interest of all shareholders, but I don't know how strictly these laws have been enforced. Interested in comments on these situations. -Wright

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