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Technology Stocks : CSC Computer Sciences Corp
CSC 69.010.0%Apr 10 5:00 PM EST
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To: Jorgen Jensen who wrote ()2/20/1998 9:22:00 AM
From: Labrador  Read Replies (1) of 125
 
My view is that CA is somewhat toying with CSC with their $108 offer. Obviously, they are prepared to offer at a minimum $114. CSC management is scared -- they are trying to defend their jobs and obviously since they dont have a tremendous number of shares, they cannot control this deal. All they can do is badmouth CA -- 'cause that's all they can in fact do.
'
I am sure that they are trying to find a white knight -- since these takeover defenses wont stop an active pursuer -- it will be clear within a short timeframe that the shareholders do rule.

Further, as stated in this mornings NY Times -- if CA wants to get the attention of shareholders and speed things along, they will offer more $$$ -- maybe $120.

So we will see some action here -- the entrenched management and board wont be able to hold out if the $$$ come. And, who knows, maybe a white knight will arise.

As Putnam says " what is your plan to increase shareholder value" -- no answer from management.

Also remember here, "cash is king" - a better offer from a white knight better be more cash or at least $125 on the stock side. So you CSC shareholders dont get concerned, because in the long-run the shareholders of CSC will rule this acquisition, not the entrenched management.
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