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Technology Stocks : edusoft (EDUSF)
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To: Frank Gasker who wrote (184)2/26/1998 9:33:00 PM
From: Arch  Read Replies (1) of 272
 
Frank,

I have just put stock symbol SLVN on my radar screen, and I recommend that you do the same.

When I listened to the Conference Call, one company name was emphasized by Menachem Hasfari and was then stuck in my ear. It was "Sylvan Learning." Do you recall it? It was mentioned in connection with the Compu Lingual idea. It's a rapidly growing company with many learning centers scattered around the world.

Sylvan just announced a record earnings and revenue today and a 3 for 2 stock split. Its growth model is to purchase smaller companies.

In the third quarter 1997, it had a secondary offering to raise $75+ mil. The purpose of the offering? "The proceeds of the offering will be used for general corporate purposes, which may include funding selected future acquisitions." (see sec.yahoo.com Since then, it announced one acquisition for 25 mil (The Canter Group) in cash (so far as I can tell).

I don't wish to start a rumor, but EDUSF's plan of Compu Lingual resembles Sylvan's model too closely to be ignored. Is Sylvan the leading suitor? We should be prepared.

I am not sure what it will do to EDUSF's price if Sylvan does turn out to be a serious suitor. Sylvan management is strong and may not give a good price to Degem. However, it is likely to buy the whole company if it buys Degem's shares.

Whoever is pursuing the deal with Degem, one thing seems to be clear: Degem is dealing with some very smart and savvy negotiators, who have the patience for a better price for the stock and a more convincing record from EDUSF. Have they got both by now?
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