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Technology Stocks : Axsys Technologies (AXYS) -- Ignore unavailable to you. Want to Upgrade?

To: Donald F. Figer who wrote (83)	1/29/1999 4:35:00 PM
From: Bobcat	Respond to of 89

Don - That is what I have been saying all along. Think about it. Even when the CEO offered $15.00 they had a special committee to review the company to see if that was fair value. Then a couple of weeks ago they retained DLJ to try and determine if $20.00 was fair value. At the same time they never have let us know who might have offered $20.00 a share for the company. Now they say they are authorizing DLJ to try to sell the company. I know investors don't want to hear it, but I think the company is merely trying to get the stock up so the CEO can unload. It is possible that this is a high as it is going. Also, each press release makes sure they state "There can be no assurances the company will be bought". I think the entire mess sure leaves a stockholder in the dark. I wonder how long this effort by DLJ will take.

To: Donald F. Figer who wrote (83)	1/30/1999 12:42:00 AM
From: Donald F. Figer	Read Replies (1) \| Respond to of 89

Hi Bobcat, I wouldn't worry too much about the disclaimer at the end of each of their press releases. They need to do that for legal reasons anyway - lest one of their shareholders sue them. Your point about hyping is well taken. I have simply held the shares in as much as I thought that the company had underlying value. They are now at a PE of 14. That's still ok by me. The reason I look at PE is because the stock price will still seem reasonable if any takeover falls through. I don't know why they are not disclosing who the bidder is. In most takeovers, we know who the bidder is. I don't think that it is because there is no serious bidder. If that were the case, then DLJ would not go anywhere near this one. Even they would quit the job if they thought that the bid was baseless. Remember, some of this is due process. A company needs to be careful so as not to get caught in a class action suit in order to take a bid. Like I said, if you think that a PE of 14 is too much, then get out - takeover or not. I just wish that the press releases were more informative. By the way, I don't think the close at 19 today means anything because it was on low volume. Don