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Microcap & Penny Stocks : Bid.com International (BIDS)
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To: mike machi who wrote (6491)1/18/1999 9:06:00 PM
From: Rich Investor  Read Replies (2) of 37507
 
I appreciate your views on this Mike. But what makes you think that BII is worth anywhere near the kinds of valuations that Excite is? I certainly don't see this thing jumping to those kinds of valuations simply because of a buy out. Especially if it happened before NASDAQ. You're right, it is too cheap, but just because a takeover may happen doesn't mean the company is all of a sudden worth all that much more. (ESPECIALLY in this case) Keep in mind that in M@A, the name of the game is to get another competitor at as cheap a price as possible, or where the valuations are comparable between competitors. Who in there right mind is going to pay $50/share for BII (as an example) simply because of an interest to acquire? If it couldn't achieve such valuations before, it sure as heck isn't worth them under these circumstances either.
In the case of Excite and At-Home, remember that the buyout is cheap for At-Home with their shares trading at $102 and Excite at $67. This is a preferable situation for ATHM, and XCIT certainly didn't rise from a low of $18 to the current price based on this news only. It was already playing in the major leagues that it could justify such a buyout price. BII is nowhere near this ballpark at present and doesn't even have the profile of either of these companies. No one, and I mean no one, is going to offer a buyout at much more than $20 US at this time for BII.
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