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Ciber, Inc. Message Board

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  • desgus desgus Mar 24, 2000 11:25 PM Flag

    Management

    MMWW and their situation. They are a mirror of
    CBR in approximately 4 months. It is like getting a
    glimpse of the future. Their buyout had NOTHING to do
    with the S&P PE or the average valuation of anything.


    It had everthing to do with a company that wanted
    what they had, didn't want to spend lots of time to
    try to get there. PSIX determined that they could buy
    what they needed at a price that made MMWW
    shareholders overjoyed...At approximately a 300% premium to
    the market share price. Take it from me, I was a
    shareholder, it was great.

    I would not be surprised if
    CBR has already been approached by a number of
    companies looking for IT and NET consultants to attach to
    their existing assets. I know of an Indian company that
    is looking in the US to do just that. I would guess
    that PSIX tried CBR too. Any logical management would
    have tried to make the best deal and would have
    approached all the leading players in the field, which would
    include CBR.

    I get the impression from the IPO
    announcement that CBR Management thinks that they have
    discovered the solution to their boring stock price with the
    IPO/carveout and subsequent spinoff. They may realize the
    temporary nature of the stock price goose-up that this will
    cause because they have already positioned themselves
    to IPO the new joint venture with Verio (whatever
    its name is <ggg>). But sooner or later they
    will run out of divisions or subs to sell. Then what?
    At the very least, I can hope that the share price
    has been moved up and they can sell out at a higher
    price. Regretably, once you've sold most of your assets,
    your stock price isn't necessarily going to be as high
    as when people were buying to get a piec of the
    spinoff (check COMS chart and MMWW to see how they both
    crashed, just BEFORE each of their IPOs).

    All of
    these laudable moves will occur in the unpredictable
    future. The unpredictability is the only good reason to
    take $40 now rather than hope for a possible $50 or
    even a $70 share value in the future. All you have to
    do is ajust for the time-value-of money and then
    adjust for the probability that this stock price rise
    will not happen and even $35 next month looks
    wonderful.

    But then, you probably already agree with me. I am
    sure others do not. I would much rather read contrary
    arguements than the usual spam on this board.

 
CBR
4.37+0.05(+1.16%)4:01 PMEDT

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