<<Anyone got any thoughts???>>
Yeah, I've got some. Bill Schrader does NOT want his company to be bought by some holding company that can barely afford it...only to sell it again later. USi, in my opinion, is not in the league of the eventual buyer of PSI net. Try IXC or AT&T, GTE maybe, Sprint perhaps?.....maybe even AOL. One of the RBOC's maybe, but not USi. Don't focus on the earnings forecasts!!!! This is about Revenue. PSI Net is a GEM whose value will not be evident for a couple of years. But if someone were to buy it today, they would have to pay the premium for the value that will ultimately emerge. A Hell of a lot more than $15 a share. USi can't afford this company. Schrader knows that in 2 to 3 years he can be a $75 stock, and very profitable...and above all, an invaluable piece to some much larger puzzle. Mr. MacLeary knows this too, and that's why he's trying to steal the company (and I don't blame him, this is an unusual situation in which the market doesn't get it), and the valuation is rediculously low, and he's (MacLeary) smart enough to know it. He just went through this with Digex. Mr. Schrader and the board are right to disregard this proposal or offer or whatever it is. By the way, I'm amazed at the time Mr. Macleary has put in on this thread....and suffice it to say...very leary of it. Has the look of a desperate measure, but if I was that close to a heist of the Hope Diamond, I would be desperately trying to make it happen too :). Anyway..PSIX may pull back again in the short term (this week) just because it's rather extended technically...on the other hand, it will be news driven, so anything can happen at anytime. Be out of the stock at your own risk. If it does settle down, get in bigger if you're not in already. Also...keep as close an eye on IIXC as you do on PSIX...as I believe somebody will buy the 2 of them...the whole enchilada...and soon, as there is real urgency to do so because of the fiber deal. AT&T would be my top guess. Of course, all in my humble opinion...See ya...Tek |
