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Non-Tech : Cavalier Homes (CAV)
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To: richard stout who wrote (56)8/5/1997 3:24:00 PM
From: blankmind   of 67
 
Richard,

I think CAV shareholders can make out in 2 ways:

1. The price of BHIX - Belmont goes up -- currently around $8 or

2. A higher bidder comes along.

Technically, you're right. It's not a true buyout. But even with the current arrangement, CAV shareholders give up our shares for $10 --- based on an $8 share price for BHIX.

What if someone, say a homebuilder, went to the board at CAV with a deal that would give CAV shareholders $12 worth of something for each share?

See how the bidding can start?

Anyway, with so much cash on the books, so much income, such a low P/E, I would hope that the managment at CAV would hold out for a higher price. I for one will vote "no" to such a deal that values our shares at $10.

Out.
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