E4L, Inc. (NYSE: ETV) Message Board

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Non-Tech : E4L, Inc. (NYSE: ETV)

ETV 13.90

+1.3%

Nov 21 4:00 PM EST

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To: John Arnopp who wrote (273)	10/13/1997 5:32:00 PM
From: Todd D. Wiener	of 1080

John- If Cendant buys NM at $10 per share, that's ~$350 million. That's no tiny acquisition, but remember that the market cap of Cendant will be >$25 billion. That would make NM at $10 much less than 2% of Cendant's total market cap. I wouldn't consider that a major acquisition. Another option is that Cendant buys the rights to the customer list from NM, in exchange for a lump of cash. I don't see how that "enhances shareholder value," especially since NM already sold a bunch of equity for cash. The resistance at $7 smacked down the rally. It looks like the resistance will hold, unless some positive news comes out. Todd

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