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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (3329)	2/25/1998 10:45:00 AM
From: Joel Green	Read Replies (2) of 78478

How about a stock that's selling below the amount of cash it's about to get through the sale of one of its subsidiaries. Last week Elbit Medical Imaging, ELITF, announced it was selling their ultrasound division to GE for 230 million dollars. EMITF has 21.39 mil. shares outstanding., 10.75 cash per share. The stock is trading at about $7.25 per share. EMITF also owns 55% of the shares of ELT a NYSE stock that currently has a market cap of 118 million. That adds another $3.00 a share. This does take into account their Medical Centers or the fact that if ELT were to be sold it would be worth at least 1X sales which are about 300 mil. or $7.70 a share. This is "a too good to be true situation," but I haven't been able to find anything negative about it.

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