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Strategies & Market Trends : Analysis Class for Beginners

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To: TechTrader42 who wrote (1400)	6/25/2001 7:32:02 AM
From: Arthur Tang	Read Replies (2) of 1471

Your need to prove yourself right is your problem, not mine. The announced sale of MWBX was on June 11 for a total of $63 million. which is too low even for cash payment. Market makers can move the price up if they think it is too low an evaluation, or bring up a white knight to outbid Banknorth. The fact that I questioned the market makers, is that they don't own any stock themselves anymore, so they don't care what the valuation should have been. Ted Valpey likes cash, so he sold out. Ted thought he had a good deal for many times the traded value of MWBX for so many years. The IPO was $14.50/share, some 15 years ago; the bank now is many time better than 15 years ago. The fact that market makers went up to $9 then had to support the $11.50 deal suddenly is obvious. They were taken by surprise. If a white knight appears $24 would be the stock valuation. The bank's reserve if borrowing from the FEDS, since being a member, buying treasury notes will earn many times of interest; the 10 year earnings potential is great and should be paid for by Banknorth to the stockholders.

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