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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (14595)	5/20/1999 9:26:00 AM
From: Jay Lyons	Read Replies (1) \| Respond to of 43080

From Biefing, excerpted from a long analysis of the merger. Bear in mind that the figure from Whale Securities means nothing. Premier Technologies (PTEK): Premier was an initial investor in WebMD and now owns 12.1% of WebMD. Since WebMD is supposedly equal in value to Healtheon, the value of PTEK's 12.1% should be more than $650 million (0.12 * 5.6 billion). Since PTEK has 47 million shares, this represents about $13.80 per share. Cary Retlin, an analyst at Whale Securities Co., estimates the value of PTEK's ongoing business at $12 per share. We haven't done enough research on PTEK to verify this estimate yet, but if you accept it, and believe the WebMD deal will be 50/50, then PTEK's real value will be closer to $25 a share. PTEK closed yesterday at $16 5/