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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: blankmind who wrote (3319)	5/25/2002 3:26:07 PM
From: rich evans	Read Replies (2) \| Respond to of 3770

This Lehman offer is bizarre. Lehman is one of the IPO investment bankers. What are they doing making offers? I would fire them for these shenanagans and conflicts. TYCO paid 2.5 bill cash for CIT plus 132 mill shares. So the 132 mill shares equals free money now coverted to the cash proceeds received for CIT over 2.5 bill. It looks like the 132 mill shares will equal about 30-34 dollars /share when TYCO completes IPO , just like a secondary at the price. TYCO also gets large tax writeoff as their carrying value has been increased because CIT kept all its earnings raising TYCO carrying cost on its books to I think 11 bill per CFO. With the economy doing better and electronics improving, TYCOs earning power could accelerate to $3 in 2003 IMO. 10 cents a share would be debt reduction interest saving alone. GO TYCO. A return to the 40s within 6 months would not suprise me a bit. Rich

To: blankmind who wrote (3319)	5/28/2002 8:03:27 AM
From: GVTucker	Read Replies (2) \| Respond to of 3770

blankmind, RE: I'll do one better & ask why sell CIT at all? Because the game CIT plays is all based upon interest rate spreads. Borrow money at low rates, lend it at high rates, and pocket the difference. Attached to Tyco, the rate that CIT must pay to borrow is higher than its competitors. That's a losing game. CIT needs to be associated with a stronger credit.