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Non-Tech : MWBX Metrowest bank(Framingham,Ma.)
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To: Arthur Tang who wrote (85)6/25/2001 7:06:14 AM
From: Arthur Tang  Read Replies (1) of 87
 
Banknorth announced on June 11 that Mwbx will be bought out for $11.50/share cash payment. The deal of $63 million total is under valued, because it does not have future earnings potential included.

This stock was originally IPO'd at $14.50/share. However, the decision to sell may be due to the change in (decreased)deposits and the temporary (lowered)interest rate in the bank's operation.

In the long run, the decision to sell was too hasty. The market makers could have negated by nice move on the stock, or a white knight could have outbidded Banknorth group.
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