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To: Tech Master who wrote (231)5/1/1998 10:53:00 PM
From: Oeconomicus  Read Replies (2) | Respond to of 1434
 
TM, the filing was for an underwritten secondary offering, not a form 4 for an insider sale. It'll probably hit the market in a few weeks. A 2 for 1 split might help in marketing the secondary to retail investors, so I wouldn't be too surprised at that, but see no hints of it (nor do I think it necessary).

As for being an acquisition candidate - only in a stock deal by an equally overvalued company. Actually, I don't think so. ITC Holdings and management will get plenty of cash out of the secondary, so that's not a motivation. Give it a couple more years.

Bob