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Technology Stocks : CheckFree (CKFR)
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To: AugustWest who wrote (8332)10/26/1998 4:44:00 PM
From: g_m10   of 8545
 
Just a silly math exercise.
Last time CF bought back 4.7 mln shares @ av. price $.6.67.
4.7*6.67=$31.35 mln;
Assuming that National sold to CF all 3.7 mln shares @ $5.75.
3.7*5.75=$21.23 mln;
4.7-3.7=1 mln 31.35-21.23=$10.12 mln
It gives us average price of shares bought by CF on market $10 1/8.
Again assuming, that CF was averaging down in equal number of shares, and knowing that the bottom was hit @ $6 and, than they started buying back @ $14.
Math is a funny thing and too many assumptions. Still, seems to be they started buyback above $10, which is much earlier than I previously thought.
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