@Rink - Numonyx
"
I catch myself wondering now and then if Numonyx will happen at all.
"
Dito. But when you ask me, Intel and STM officials have
confirmed this move a few times, I can't imagine, that they
will now make a reverse statement. It seems obvious, that
under old conditions, the company will not happen - so its
up to Intel/STM to throw more money down the line. Its "easy"
for both (not nice of course), so they will do it, just to
get this "unloved baby" finally away.
I'm wondering, if Fransisco Partner will stay under 7% for
its 150Mio. cash sum? As said dozen times, everyone could
do the math, how Numonyx would be valued, if these payments
have still value. Thats why its very likely, that ALL
conditions (which we know so far) will change, not to the
better ... what this finally means for Numony has to be seen,
but the old implied value way over 2$ will go down. Its my
feeling, that the "new" Numonyx will be roughly valued in the
1-1,5B region -> this implies a "fair" valuation for SPSN
north of 1,5B, if the first assumption is correct. Everyone
could do the math, what this means for the share price. Again,
I wouldn't go that far - even as a SPSN shareholder, I find
a valuation around 0,7-0,8x book at this time relativly
fair => which will be around 7-8$ after SFUN is integrated.
Whether this valuation could be lifted in the future will only
depend on earnings and outlook, thats clear. So these 7-8$
are my BASE scenario.
BUGGI |
