Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: David S. who wrote (622)	11/16/1997 11:43:00 AM
From: Mr. Pink	Read Replies (1) of 18998

To ALL Mr. pink has identified yet another extraordinary value availabe to his faithful readers on this sacred thread. The shares of GMH trading around 62 are a great bet. Here's why: GMH (GM-Hughes) is undergoing a restructuring. You will receive about 30 bucks in raytheon stock, protected by a collar by year-end thus you are creating the "stub for about 32. There are about 100mm shares out representing a 25% "tracking" interest in gm hughes. Thus the EV is a bout 12 billion. However gmh has assets of about 17 billion in its interests in the leading satelite company (panamsat) and Direct tv. Thus the residual piece is being created at over a 33% discount. TCOMA recently entered into a similar transaction and the value gap closed dramatically and the shares rose 20 % after completion of the deal. Pink daddy thinks the back end shares could rise at least 20 % after completion of the deal. Look for a pop next week when the company gives a presentation on thursday to institutional shareholders. good luck. this is another value driven idea brougt to you by PINK DADDY

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