I'm Against the INSP/ GNET Merger Message Board

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Technology Stocks : I'm Against the INSP/ GNET Merger

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To: Puck who wrote (2)	7/29/2000 4:55:37 AM
From: Puck	of 16

Russell, I'm begging you to consider this deal not from the perspective of a business development manager but from an owners perspective, sensitive to what economically you are receiving on a pro rated basis versus what you are giving away: earnings for losses and hope. GNET will be providing most if not all of INSP's cash flow. GNET shareholders should own so much more of the new company than they will. Come on!!!! What are you thinking!!! Valuation must be considered, not just business opportunities. We are getting gypped. Negotiate, man, negotiate at least. Since you've chosen to give up control of GNET, at least put the company up for auction and see what other offers might available. Looking at all available options is the least you could do. At least it will force INSP to pay up for GNET instead of acquiring it at a price less than what GNET's was before the merger was announced. GNET shareholders deserve a hell of a lot more compensation for losing control of the company than the $55/share (forward looking PE of around 55, as I write this) we are getting at this point.

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