Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Yamakita who wrote (13105)	3/23/2000 1:28:00 PM
From: TRIIBoy	Read Replies (2) of 18998

TRIIBoy initiates coverage of Bell & Howell (BHW) with a strong buy. BHW is about to announce their IPO of their www.bigchalk.com subsidiary, an excellent on-line education business, and I think it will be a big IPO, with a lot of hype. They are having a conference call on April 18. Investors should want to be in before the announcement of the IPO. I estimate that they will own 40% post IPO of Bigchalk.com, and that based on VC money raised (last round $55 million), and the wackiness in the market it should easily get a $1 billion valuation, so that would give them $400 million, out of their current EV of $1.3 billion, then you have a company trading at 5.9 times trailing EBITDA, that is about to split into two companies, their mail & messaging segment and their Information access division, which includes Bigchalk.com. Its just plain cheap and with some hype and some positive coverage it could easily double. Price target $60 per share.

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