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Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: Crossy who wrote (802)	12/31/2002 12:03:07 PM
From: Crossy	Read Replies (1) \| Respond to of 23958

re: IPSU making another run at $5.00 I read the PR for the FY-2002 again and found this text "impacted by the sale of certain business units, including .... beet factory in Worland, Wyo." This means that the 2nd sale of beet sugar plants - the one to American Crystal - Torrington, Wyoming - Sidney, Montana and a 3rd took must have taken place after closing of year-end books. And indeed, I was right.. the asset purchase agreement - it'S dated Oct. 7th.. Not in the 10K but in the upcoming 10Q.. Hmmm.. sec.gov. And nice clues indeeed.. "cash payment equal to Thirty Four Million Dollars ($34,000,000); plus the book value of the Operating Supplies in excess of $1,000,000; less the agreed-upon value of the Excluded Equipment; and less the value of any Sidney Byproducts sold by Seller prior to the Closing Date" This transaction should add around $35m in cash. Then the Hormel deal - for $115m - should add more than $115m in cash. Together this amounts to $150m. If my calculations are correct, we may arrive at a book value of around $13 at LEAST when the next quarterly PR is going to be announced.. rgrds CROSSY