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Gold/Mining/Energy : CIBC tse/cm -- Ignore unavailable to you. Want to Upgrade?

To: Barron Von Hymen who wrote (35)	1/28/1998 8:28:00 PM
From: Nykol	Respond to of 147

Any company saying publicly that they want to remain independent, or they are not for sale, is merely doing what is best for us shareholders - making noises that will hopefully result in a higher opening bid, which means they can then start to negotiate the price from a higher base. I say more power to them. I wouldn't be too surprised to see a large foreigner step up to the plate for one of the remaining big 3 - and they may not necessarily be from the US. But this is mere speculation . It also wouldn't surprise me to see one of these three make a move on another "pillar" of the financial services industry - an insurance business comes to mind. In the case of CIBC, they have made no bones about wanting to be an acquiror rather than an acquiree - so they will be making strategic moves accordingly. I agree with the comment that BNS and CM are undervalued relative to the others.