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Non-Tech : Praxair - Industrial Gases NYSE:PX
PX 10.15-4.5%Oct 30 3:59 PM EDT
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To: Craig Jacobs who wrote (35)9/14/1998 8:36:00 AM
From: Richard Mazzarella   of 56
 
Craig, the spin-off from UK was accomplished with existing Linde management. The spin-off $17/share should have been closer to $30 if they had the P/E of their competitor APD. Both PX and APD both had the same amount of sales. PX management has now received their 5 yr. performance cookies and may be looking for a golden chute. Retirement is fun. Poor stock performance screams takeover, especially from cash rich companies at the top of an economic cycle IMO.
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