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Strategies & Market Trends : Value Investing
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To: Tomato who wrote (10448)4/27/2000 9:01:00 PM
From: jeffbas  Read Replies (1) of 78958
 
On EBSC, there are two key events.

The first is the suspension of a huge authorized stock buyback, where mgmt refused to comment of the reasons for suspension. It is plain as the nose on your face that this is because they have been advised they can't buy stock from shareholders when they are working on a deal of some sort.

The second is the recent postponement of the annual meeting from May to August. If it had been held in May they would have lost some Board seats to an outside slate and would have barely retained control if they controlled all remaining outside directors, in office before the 2 added by dissidents last year.

In my opinion, there will be a sale of the company or a leveraged buyout by mgmt before August. I have always thought in terms of a price of $8 to 10, not more. Obviously if the stock price is lower, the offered price might be lower.

If there is no sale at all, I believe that the buyback will resume and get the stock back to $5.
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