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Microcap & Penny Stocks : TESCORP (TESC) = Undervalued Opportunity! -- Ignore unavailable to you. Want to Upgrade?

To: leigh aulper who wrote (142)	11/14/1997 8:45:00 AM
From: timmy e.	Respond to of 206

Leigh, You're right. Here's what I believe is happening. Supercanal was supposed to buy these "new" shares, not for Tescorp's benefit (or shareholders), but to give Supercanal a large enough percentage of Tescorp stock to make it difficult for a hostile bidder to enter during the tender offer for our shares. From what I can get from the press release, Supercanal may be having financial difficulty and is "forced" to lessen the amount of new shares from 10.8 million to 4.5 million. Tescorp's concern seems to be.......(now this is only my viewpoint and you're welcome to have your own), without a GUARANTEE from Supercanal to complete the merger, Tescorp does not want to sell 4.5 million shares to Supercanal for a measly $3.33 per share. IF.......Supercanal is truly having difficulty raising funds, they can back out at the last minute before the tender offering and walk away with 20% of Tescorp. Does this make sense?