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Technology Stocks : FORE Inc.
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To: WTSherman who wrote (11481)4/2/1999 10:58:00 AM
From: Trevor Goodchild  Read Replies (3) of 12559
 
Takout Price of 28-30 seems low considering FORE seems to be trading at a bargain P/S of 3.46. Check out these ratios from market Guide:

Fore Industry Sector S+P500
Beta 1.00 1.46 1.50 1.00
Price to Sales(TTM) 3.46 15.09 12.54 5.80
Price to Book (MRQ) 3.73 16.03 13.39 8.95
Price to Tangible Book(MRQ) 3.73 16.29 14.41 12.38

I think if they've held out this long, then the takout price will be north of 50. Depending on what currency the offer is based on: Nortel shares, TLAB shares, ERICY shares, Compaq or IBM shares, the takeout price would be adjusted. My preference is some big stodgy acquirer where dilution won't be a factor. Remember that the SEC is now cracking down on pooling of interest expenses. You can no longer expense the whole enchilada all at once.

Then again, we've played this takeout game so often that it's hard to get worked up about it anymore.
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