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Technology Stocks : Seagate Technology - Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: MikeM54321 who wrote (1488)	3/29/2000 7:28:00 PM
From: Robert Douglas	Read Replies (2) \| Respond to of 1989

Mike, Unless there's something that has missed my attention this is outright theft. I am expecting that the offer might be raised if this can be shown to be a bad deal for shareholders. Usually an investment banker is brought in to give an opinion on the fairness of the offer. The way I see it is that we owners are selling our Veritas shares to them for less than they are worth and then giving the disk drive assets to the managers that we hired for less than their value. The rationale for this is that there is no other way to unlock the value in a tax-free transaction. So we are asked to discount these valuable assets to expedite a deal. When it is all said and done we then will pay our taxes when we sell our VRTS shares. (I'm assuming the exchange will be tax free, as forced exchanges usually are.) We would have been better off, I believe to have had the shares spun directly to the SEG shareholders.