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Non-Tech : Cable Car Beverage (DRNK)
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To: Andrew who wrote (164)6/25/1997 12:48:00 PM
From: Khris Vogel   of 284
 
I think we will see a sweetening of the offer if enough of us make a stink

I hope that mgmt. does indeed listen to what its shareholders have to say. But, as somebody posted here, one does wonder what kind of carrots were dangled in front of them to make them support the deal.

Another thought is that it would be hard to believe that the two stockholders whose aggregate holdings total @ >20% of the co. would be so foolish as to leave money on the table, so to speak, as they did.

The 8K filing will be the revealing factor.

...perhaps a White Knight may show up.

One only hopes that a Lancelot or a John Wayne would be watching from the wings. Maybe Pepsico or Cadbury Schweppes would look good coming in w/ the calvary to save the day?

Another poorly contrived merger was SIGA and Continental Circuits. Stock of the acquiring co. (Continental) drooped until they called it off. Maybe same thing will happen with TRY stock price.

If the full offer is not a good one for us, I hope you are right. Anybody knowledgable on the SEC's past actions w/ respect to M&A activity not beneficial to the acquiree's shareholders?

BTW, the press reports on TRY painted them as very savvy and likely to succeed with Snapple, having "stole" it from Quaker.

Most of the analysts comments do give TRY good odds for success based on the acquisition price. I'd think that if the price is right in such deals, it would be hard to not succeed if mgmt. is somewhat sharp.

I'm trying not to paint TRY's mgmt. as the bad guys here too much. It was painfully obvious to all that Quaker didn't have a clue on what to do w/ Snapple. Their misfortune is TRY's gain. But DRNK is a different story, as current mgmt. appears to have done quite well w/ the co. In making the co. available on the cheap doesn't make TRY bad in my book, but rather shows some bad judgment on the part of DRNK's mgmt.

Anybody know the precise timeline on the 8K filing?
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