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Boykin Lodging Company (BOY) Message Board

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  • jrad52 jrad52 Jun 16, 2006 7:04 AM Flag

    Sale is a Dead Deal

    You're missing a few things. The sale of the Marco Island property for $ 58 million as well as the sales of two properties to the Boykin interests, will increase equity by something in the area of $ 35 million, maybe a few dollars less. This raises book value for the company to about $ $ 13.75 to $ 14 per share, so the decline in value on the remaining hotels must be $ 2.00 to $ 3.00 per share, without considering the insurance claims. Or maybe BOY is anticipating lots of severance costs to be funded by the shareholders.