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Technology Stocks : CGRM Centigram
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To: David R who wrote (65)3/11/1997 3:30:00 PM
From: Red Dragon   of 333
 
David: you mentioned that you thought it was unlikely that Centigram would get bought out. Centigram only has about 7 million shares outstanding. At a recent price of $10/share, that makes a total market cap of 70 million - a tremendous value for a company with 40 million in cash and 100 million in yearly revenues.

Put another way, if a company offered to buy out centigram at $15/share, they would pay out a total of 105 million - and immediately get the 40 million in cash, so they would spend 65 million to acquire a 100 million revenue company that's growing!

I hope that it does not get bought out, but it sure seems like a compelling value. Why do you think a buyout is unlikely? What is the "poison pill" that you referred to?
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