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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: booray who wrote (35987)5/14/1999 1:47:00 AM
From: Barronio  Read Replies (1) of 122087
 
<CLEV> At the current price of the stock, they would have to get a $500 million deal. I don't think so.

Where do you get this figure? thestreet.com calculated in November that if the team sold for $300 million (which is certainly reasonable) then shareholders would get 21.20 a share. That would mean the current price is around a 25% discount to the projected takeover price, which is about what I'd expect and makes the short trickier.

fnews.yahoo.com

Disclaimer: the article does its calculations dependent upon some changes in the club that were in the future at the time of the article but are presumably now done. I haven't investigated whether this actually happened, haven't checked the calculations, etc etc.
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