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Non-Tech : U S FILTER (USF) A Water Stock !

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To: Robert Voigt who wrote (101)10/14/1997 2:19:00 AM
From: Carl R.   of 361
 
They have been very consistant about one thing in their acquisitions, all acquisitions must be accretive. This is possible because they have a higher PE than the rest of the industry, and of course explains why the rest of the industry is jealous of them. When you have a higher PE than the people around you, growth by acquisition is quite viable. But if they are to continue to have the high PE they must be careful not to make acquisitions that are dilutive. And that explains why the offer for MET has not been increased, and may not be. But even if the deal doesn't go through, they stand to make a tidy $5 million profit on 500,000 shares which they bought in the lower 20's.

Carl
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