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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: David Penfield who wrote (11974)	6/9/1999 1:41:00 PM
From: Rich Wolf	Read Replies (1) \| Respond to of 27311

David, you came down awfully hard on FMK. As noted, it IS true that CLIENTS from two large brokerage firms hold shares that represent 30% of the outstanding shares. This is not a 'rumor.' Perhaps 'influence' would have been a more correct term to have used than 'control,' but a mild correction would have been sufficient. The point is that many of these clients likely came in on the advice of certain brokers from these two firms, and would take seriously their recommendations re: takeover offers. Either way, without the support of Berg, Dawson, and these two firms, any takeover attempt would be doomed to failure.