Seagate Technology - Fundamentals Message Board

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Technology Stocks : Seagate Technology - Fundamentals

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To: Kevin Linder who wrote (1750)	4/15/2000 10:18:00 AM
From: MikeM54321	Read Replies (1) of 1989

"At least SEG has assets -- even if VRTS takes some time to recover the deal can be put back together later. Remember the huge run up in VRTS stock over the last year or so -- it could run down just as much -- would anyone give $8-10 bucks and $5 in change for their SEG shares. Regardless of what you think of the Drive industry?...But, the deal is not predicted to go through until the calendar 3rd quarter." Kevin- Understood about SEG having assets part. But I don't follow your VRTS statement. Are you saying if VRTS runs up to a hypothetical $200/sh, you would want the deal to go through? I don't understand your reasoning. The value of SEG would reflect the full value of it's VRTS at $200/share pre-deal holding(or close to it) right before the deal closes. Then let's say the deal closes the next day. Why would you want to do anything to allow the only real business SEG has (the HDD business) be taken out for a steal? It makes no difference what the value of VRTS is. The LBO gang of bandits still STEAL the HDD business. Furthermore, conservative SEG shareholders looking for a value play may create a mass exodus for a tiny door once the VRTS shares are transferred over to them. Aren't you afraid of being caught on the wrong side of that exit door too?...I understand the pre-deal SEG theoretically should reflect the, "heading for the exit door," scenario. But in today's crazy investing environment, I'm guessing a lot of SEG shareholders spend little time figuring out what we discuss here. And one day, Boom! They hold internut shares and may flee. In summary my two points. First, HDD is being stolen no matter what price VRTS is. Second, you are trading internut valuation for conservative(albeit unlocked) valuation. Nothing changes even if VRTS is $200/share. What am I missing? Thanks. MikeM(From Florida)

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