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Technology Stocks : MITEL (MLT)
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To: Guaranteed who wrote (1468)6/7/2000 12:48:00 PM
From: 4finger  Read Replies (2) of 1730
 
Guaranteed it is good to see you back and pounding the table.

I don't know Vertex, but at first blush I really like this transaction. Why?
1) anything that furthers MLTs VoIP range interests me ALOT! If you want to get a PMCS multiple you got to start acting like PMCS. This is consistent with that objective.
2) Unlike the Plessy transaction (I sold on that news) there is nothing to cause indigestion. No Fabs to write off, and no discontinued operations charges to take away momentum.
3) stock buy-back to largely offset the issuance of 11 million shares is an effective use of cash. Mandy has proven that he can do better than T-bills, so why sit on cash? If the stock tanks and they can buy back stock and Vertex cheaper.... that works for me big time.

I'm giving MLT somewhere between a couple of days to a week wobble and then I will replace the last tranche of what I sold previously and hunker down for another nice two year ride.
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