Enron - Natural Gas Industry Message Board

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Gold/Mining/Energy : Enron - Natural Gas Industry

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To: E_K_S who wrote (725)	11/27/2001 12:03:51 PM
From: Bob Rudd	Read Replies (3) of 1433

Peter Eavis with thestreet.com just made this comment on Realmoney.com: "Wouldn't be surprised if the NEW EXCHANGE RATIO is closer to 0.09 than the 0.17 number. I know I keep banging on about this, but I don't see how the rating agencies can justify their investment grade rating for Enron as its core business deteriorates." Prior to this comment, Eavis put up this article: thestreet.com Eavis is primarily a banker/bond guy. He's written several articles on ENE. I give his opinions more credability that most thestreet opinions, but would probably look for a higher deal than .09 in order to get shareholder approval. I'm now figuring: Old .2685 deal, 2%; adj deal .14, 63%; No deal [drop to 1.50], 35% for an expected value of 4.11. No significant margin of safety. Still just guesswork.

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