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Technology Stocks : PairGain Technologies
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To: kvogel who wrote (25970)9/5/1998 12:20:00 AM
From: Rainmaker  Read Replies (3) of 36349
 
The company has not announced a share buyback. I personally prefer that this NOT happen. The $250+M kitty is extremely attractive to any suitor. Assuming PAIR goes for somewhere in the mid 20s, say $25. With 75M shares (65M outstanding), that comes to a buyout price of $1.6B. The $250+ CASH can represent a 16.6% discount from the buyout price. Nice bargain. Estimated buyout price based on PEG of 30% x estimated '99 EPS (30 x $0.85).
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