Value Investing Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Terrapin who wrote (10699)	6/8/2000 12:19:00 AM
From: James Clarke	Read Replies (1) of 78748

re: Case-New Holland You realize that on June 30th, the share count is going to go up by roughly 80%, right? The company is going to issue about 120 million shares to Fiat at this steal of a price. And they will still have $4 billion or so of debt. The rights offering offers you the "opportunity" to buy at the same price as Fiat converts at. Fiat's price is the average price for the 20 days of trading ending June 30th. So if you want that price, you don't need the rights offering. Just buy the stock. This is a scam in my view. Management should be ashamed of this attempt to mislead shareholders. The merger itself was an absolute travesty for shareholders of New Holland. I could easily make a case that CNH is a triple in three years, and I could easily make a case that it goes bankrupt. There is so much leverage and uncertainty that you can make it "worth" whatever you want it to be worth. I have done the analysis, and I pass. I sold New Holland the day the deal was announced, and I will not be back.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next