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Non-Tech : U S FILTER (USF) A Water Stock !
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To: Carl R. who wrote (86)9/21/1997 12:55:00 AM
From: Wade   of 361
 
The whole filtration industry konws that the $30 offer is a really dirty lowball bid, that is why the stock went over $34. USF has to pay at least $35 for Memtec in the eyes of Wall Street. I feel it could be as high as $40 depend on how eagerly they want a filter company. Pall and Millipore are too large for USF to swollow. CUL and CUNO are better targets. CUL is just open for bid. They have to wait for CUNO ....till Sep. of 98. Therefore, their immediate second target could be CUL. However, Memtec has membrane technology which CUL does not. Memtec has book value over $17. So, very likely USF will raise the bid to above $35. The final price could be $40 or higher. Or, they will raid CUL. Cuno is safe for one more year.

Sincerely,
Wade
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