Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: Dany Tremblay who wrote (2805)	4/7/1999 2:40:00 PM
From: RTev	Respond to of 28311

Exactly. And that's why the $90 tender offer was an ingenious part of the deal. Allen didn't need the publicly traded stock to take controlling interest in the company, but by putting out the offer, he created a floor insuring that the deal would be accepted. He made the deal when the stock was at $89 and virtually guaranteed that it would rise on news of the deal since nobody would reasonably sell at $89 when they were be guaranteed of (at least) $90 a few weeks later. Of course, he ended up making paper millions on the appreciation in price and saving millions more by not needing to cover the tender offer. (And as a Seattleite, I enjoy seeing Allen make millions because it means he'll do more silly things like buy an old movie theater and spend a year remodeling it to make it into the perfect place to show Star Wars. I like those priorities.)