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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (112679)	3/30/2011 1:18:08 PM
From: scion	Respond to of 122087

Kodak sale, but who’s buying? Posted by Matt Daneman • March 22, 2011 • 3:28 pm blogs.democratandchronicle.com Your shares of Eastman Kodak Co. are going for $3.25 each, and Wall Street is not looking for it to go much higher anytime soon, with the mean target stock price at $3.13, according to analysts surveyed by Thomson/First Call. But if you’re looking to cash out slightly higher, talk to A. Weintraub. Kodak this week received a letter, also cc’d to some members of the press and supposedly to some major shareholders, from Weintraub and Sterling Global Holdings indicating an intent to buy at $4.81 per share all outstanding shares of Kodak stock - a $1.3 billion aquisition. And a nice markup from where the stock is today, languishing at around $3.25 a share. So who is A. Weintraub, managing partner of Sterling Global and potentially the next owner of Kodak? Good question. According to Weintraub, it’s a privately held company that buys distressed firms. “I have been buying distressed companies for the past 15 years,” Weintraub said in an email exchange. “Our dealings have been in the hotel and casino area as well as buying assets of large bankrupt companies such as GM and Chrysler. We have bought some of their dormant properties and land left in the bankrupt entities. Our company looks for companies that have turnaround potential.” Turning around a struggling Fortune 500 company is a massive undertaking - one that would likely require some background and experience. And exploring what experience Weintraub has in that area raises more questions than answers. Weintraub declined to give any specifics of companies or properties Sterling Global supposedly has bought. A Google search for Sterling Global Holdings turns up nothing. Sterling Global on its letterhead gives an address in Davie, Fla., north of Miami. And the Florida secretary of state has no incorporation records for Sterling Global Holdings or anything close to that name operating in Davie or involving Weintraub. The fax number for Sterling Global returns to the northeast Ohio offices of a California communications company that offers, among other services, eFaxing, in which faxes are turned into emails. The telephone number of A. Weintraub is registered to an Allen Weintraub. In Miami area business circles, there is a notorious Allen Weintraub who was arrested in 2005 by the state for selling potentially worthless insurance policies to homeowners. A. Weintraub said there was no relationship between him and Sterling Global and that other Allen Weintraub and his Global Insurance Group. “You can’t assume people with the same name are one in the same,” Weintraub said. Kodak spokesman David Lanzillo said the company had never heard of Sterling Global before getting the letter and that it is not a shareholder. So is Kodak about to be taken private by A. Weintraub and Sterling Global Holdings? Anything is possible. But don’t count on it. blogs.democratandchronicle.com