<<<<<Again the $10 target was based on last monday's close. We were prepared to
evaluate increasing the target relative to the market price.
>>>>>
And a good target it was.....if we all looked at the offer from an objective p.o.v., as if we had no position at all, then the offer would be more than fair. Hard to do if you got in PSIX at $13,$18, or $26 or even higher, or have been holding for many months. If you got in btwn $4-$6 then a $10 offer sounds great. But the premium was there, so in all fairness to Usi, they did offer a fair price, even though it may be 'insulting' to some here due to what many are hoping/expecting for as far as a buyout price.
Mr. Macleary, I know you can't comment on the details of your meeting this weekend, but did your team get to actually meet this weekend to discuss any further action if any?
Also, in your opinion, how does the IXC deal change the ability of yours or any other companies to bid for PSIX?
Also, if PSIX accepted your bid, or a bid from another company, wouldn't they still pursue some sort of fiber deal, with IXC or another?
Here's some bits from Zacks:
<<<<PSIX: COWEN & CO. decreased estimate for fiscal year ending
12/97 from $-1.18 to $-1.28 on 01/23/98
PSIX: FRIEDMAN BILLIN decreased estimate for fiscal year
ending 12/97 from $-1.22 to $-1.25 on 01/15/98
PSIX: FRIEDMAN BILLIN decreased estimate for quarter ending
12/97 from $-0.35 to $-0.37 on 01/15/98
PSIX: FRIEDMAN BILLIN made new estimate for quarter ending
03/99 of $-0.19 on 01/15/98
PSIX: GERARD KLAUER decreased estimate for fiscal year ending
12/97 from $-1.24 to $-1.25 on 01/08/98
PSIX: GRUNTAL decreased estimate for fiscal year ending 12/97
from $-1.17 to $-1.25 on 01/23/98
PSIX: WHEAT FIRST decreased estimate for fiscal year ending
12/97 from $-1.14 to $-1.29 on 01/13/98
regards,
cg |
