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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: mister topes who wrote (9110)5/30/1999 8:24:00 AM
From: Boca_PETE   of 42834
 
don lane: RE: < rumored Justabid.com take over of
bobbrinker.com in a stock swap deal reportedly worth over
fifty billion dollars in justabid.com shares. >

If they're serious about this combination, these two companies had better get this rumored transaction closed by December 31, 2000 to avail themselves of the present "pooling of interest" accounting whereby the merged companies would simply be reported as the sum of the historical book values of these two companeis. Otherwise under required "purchase accounting" for mergers starting Jan 1, 2001, the excess of the current value of the shares paid for bobbrinker.com over the book value of bobbrinker.com will have to be charged off to future earnings probably over the next 10 years. That means the new company JUSTABRINK.COM may not report any earnings until the year 2012. Of course if the present frenzy for internet stocks continues until then, that would be a plus.

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