Autotote Corp (TTE) --- Computerized wagering equipment Message Board

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Microcap & Penny Stocks : Autotote Corp (TTE) --- Computerized wagering equipment

TTE 61.57

-1.1%

3:59 PM EST

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To: Dawgfool who wrote (92)	12/11/1998 2:22:00 PM
From: joe z	Read Replies (2) of 124

It looks like Oaktree is interested in Calder besides just Autotote Kawasaki Leasing Corporation, owner of Calder Race Course, has been shopping the track around. CIBC Oppenheimer, New York, a large financial institution, was asked by Kawasaki to contact possible parties interested in buying the South Florida track. "Several suitors made offers that were recently rejected by Kawasaki. The interested parties were asked to go back and consider making a second, higher, offer,” said Calder president Ken Dunn. “I expect to have the bids and a decision within a couple of weeks. Kawasaki has told me if there is no offer at the price they have set they will take the track off the market." Dunn said Kawasaki is looking for three things from the new owner: The right price, a good corporate citizen who will work with horsemen, and someone who will protect the existing work force. Bert Firestone originally purchased Calder in 1988 for a reported price of $88 million. Kawasaki Leasing Corporation took control in 1991. The current suitors include Churchill Downs, Tampa Bay Downs and Oak Tree, an investment firm that looks for undervalued companies (Oak Tree is not related to Santa Anita's Oak Tree Association).

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