Net Perceptions, Inc. (NETP) Message Board

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Technology Stocks : Net Perceptions, Inc. (NETP)

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To: Smear_campaign who wrote (2651)	8/9/2000 8:52:34 PM
From: rupert1	Read Replies (2) of 2908

smear campaign: I would be concerned that the buy out price would be in the $35-40 range if (a) the acquirer was a large cap company whose own share value had not been affected by both the bubble and the crash in "internet stocks" and (b) if the bid was to be made before October. In such an eventually, they would be getting NETP so cheaply that they could afford some disruption in the intellectual capital side of things if NETP insiders resisted and refused to co-operate once it became a fait accompli. With the possible exception of ORCL - I do not think any of the big companies have shown any obvious signs of being interested in a quick takoever. ORCL does not like to pay for companies in order to get at software, preferring instead to partner or write its own software, but NETP would cost it so little - a share swap and give it such an advantage, it might be tempted. Once the market gets past Labour Day - most institutional holders will expect NETP to be at least $25 with the possibility of testing its all time high within the following six months. So why would they accept less than $50 from any potential acquirer? Many institutions bought into the SPO at $45 and others have paid in the $35-65 range. I realise that time is money - that's why I think a bid in the $50+ range may succeed. The danger for NETP heightens once the CRM companies and toehr CMGI type companies start recovering the bulk of their "lost" value. If NETP does not keep up with them and close the differential gap, then their share value will give them an oportunity to buy NETP out. I think NETP might want to just go for profitability by 1Q and then try an acquisition in the 1Q or 2Q if its share price strengthens as the result of profitability. On the other hand it could do with a growth boost right now - if it could get a KD1 type acquisition for about $30 million and some shares, that could also help, as long as the acquisition was not dilutive of earnings.

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