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Strategies & Market Trends : Value Investing

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To: David who wrote (17085)	7/29/2003 6:45:57 PM
From: TimbaBear	Read Replies (1) of 78984

David I guess you're up on the news today that BONT offered $7.00/share cash for EBSC. We were hoping for a bidding war, and it's been one so far, perhaps more to come. Even without a bidding war, seems to me that with an offer of $7.00 and a current price of $6.66 that one would get around 5% by holding just through the end of September. Better than CD rates for a whole year. BONT's balance sheet (a quick look only) seems to be able to support the new debt and EBSC's cash flow would support it, so it doesn't seem very risky to me at all. To mitigate the risk is the potential for higher bids. There would only be friction one way (getting in) as the buyer would just pay cash (so no friction getting out). Anyway, if you haven't seen the news blurb: biz.yahoo.com TimbaBear

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