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Technology Stocks : Open Text
OTEX 34.56-3.9%Nov 7 9:30 AM EST
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To: BACRDI who wrote (737)3/14/1998 7:31:00 PM
From: gc   of 1195
 
My take on this event is like this: The company has been sitting on $20 million cash which is not generating meaningful return. The best way to use this cash is to do acquisition. They started searching since last September. Recently they have something in mind but could cost more than $20 million. So they decided to raise more cash. This strategy makes sense to me. It is in the best interest of shareholders as well. 10% dilution is not much as long as the acquisition makes sense.
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