24/7 Media, Inc. (TFSM) Message Board

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Technology Stocks : 24/7 Media, Inc. (TFSM)

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To: mrc who wrote (335)	12/13/1999 4:44:00 PM
From: Toby Zidle	Read Replies (1) of 669

it's rumored that CMGI may buy TFSM....something like 2:1. Yeah, the rumor has been around for several weeks now. May be true, maybe not. But I don't understand your "something like 2:1". CMGI closed at almost $212, TFSM at $61 9/16. Your suggestion seems to infer 2 CMGI per 1 TFSM share. No way! You're about 6 times higher than the next highest guess. So is it 2 TFSM for each CMGI share? That's an 0.5-to-1 exchange ratio. It values TFSM at $106. Super-optimistic. Probably not close to reality. But strange things have happened in stock swaps. The original buyout rumors valued TFSM at $65-$70 per share. The stock price has risen to almost that level. Wouldn't you want to say now that a buyout is being priced into the TFSM stock? That a premium about market price now would be 15% or less? That's what it looks like the market believes. I'd just like to have some of your further thoughts, mrc.

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