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

To: MKEL who wrote (152)	11/18/1997 8:47:00 AM
From: timmy e.	Read Replies (1) \| Respond to of 206

Mkel, I agree.........sort of. We had great momentum prior to the Supercanal offer and the road show was opening on a positive note. The only thing that concerns me of starting over is that Tescorp may have stepped on a few toes when they jumped on the bid so quickly. Melissa Cook at Prudential was telling her clients that Tescorp was worth $7 a share. Why did Tescorp jump on a $4.50 per share bid so quickly? Secondly, Prudential and Lehman were primed to receive mucho dollars after the successful equity and debt offerings. This money went down the tubes when Tescorp bit on the bid. Finally, there were some institutional holders that bought the stock at $4 or so that were furious when Tescorp accepted $4.50. Do you think these people will want to hold the stock? I don't know if Tescorp management really wants to run the company anymore. I really hope at this stage that the Company receives their $4.50 price and gets out. Either way, I see minimal downside here at the present level of $3.50. I hear Bear Stearns recently did an independent study of this deal (they're holding quite a few shares) and thought Supercanal was getting a steal for these properties at $4.50 a share.