Identix (IDNX) Message Board

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Technology Stocks : Identix (IDNX)

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To: brad greene who wrote (13567)	5/19/1999 12:38:00 AM
From: David	Read Replies (3) of 26039

Brad, IDX still has control over a high percentage of its shares. 5M by ASCOM (subject to checking latest SEC reports) controlled in trust by an IDX director; About 4M restricted and/or controlled by IDT shareholders; another 2M or so owned by Fowler and other insiders. That's over a third of all the common, and it doesn't include whatever is owned by mid-level workers, etc., who are likely to throw in with current management in a fight. And there are going to be some of us on the outside who won't want this company bought out. So a takeover is still remote to me. Perhaps when ASCOM sells or the IDT shares lose their lockup, IDX will adopt a poison pill. That (1) helps avoid hostile takeovers and (2) depresses the stock price that may otherwise include a premium anticipating a hostile takeover. It's early to be discussing this. A predator company would probably like to take IDX out only when there is so much momentum and deals in place that they could survive a turnover of company personnel. We are not there yet. My hope is we never get bought out, or get bought out by a near-equal in the same field (maybe VRSN someday) so that we can continue with a rapidly appreciating stock.

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