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Non-Tech : E*Trade (NYSE:ET)
ET 16.38+0.1%Dec 24 12:59 PM EST
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To: Rick who wrote (3296)7/17/1998 5:44:00 PM
From: Tom Smith  Read Replies (2) of 13953
 
Rick,

Any E*Trade takeover talk is likely to be dampened considerably by the Softbank investment. If you consider Softbank an "insider" (they have a seat on the board now), then the total insider ownership probably approaches or exceeds 50%. Enough to nix any unfriendly takeover.

A friendly takeover doesn't seem likely either since E*Trade seems to be doing just fine on their own. The $400M from Softbank eliminates any need for a cash infusion. I don't think current management would welcome a "big brother" corporate parent telling them what to do either.

Tom
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