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Technology Stocks : ORFR-ORBIT/FR

ORFR 3.500

0.0%

Apr 10 5:00 PM EST

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To: Naggrachi who wrote (288)	2/7/1998 12:51:00 PM
From: Louis Cornell	Read Replies (3) of 475

Based on what I've read Marconi's business (IFR's acquisition) is in RF and microwave. Orbit's main growth is in satellite and wireless. The growth rate of Orbit's niche is much higher than IFR's IMO, based on ROE and margin comparisons. IFR is more diversified, and I don't think they directly compete in many, if any areas. I'm curious as to other's opinions on that. I do think that based on Orbit's small size, and current stock price, this acquisition makes Orbit look like an attractive takeover candidate, given the consolidation going on in the test and measurement equipment industry. I hope that a buyout doesn't happen, because longer term it looks like Orbit alone would bring a much higher return to investors than by the premium of a buyout now, assuming Orbit could get $28-35 on a takeover. My 2 cents. regards, Louis

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