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Tenneco Inc. Message Board

  • Ex_Ten Ex_Ten Feb 20, 1999 1:05 PM Flag

    Barron's Article this week

    The following is from the article.

    "Taken
    together, the $9.3 billion valuation of Tenneco's units
    ($5.1 billion for packaging, $4.0 billion for
    automotive and a $200 million interest in containerboard)
    less $2.4 billion in debt, places an estimated net
    value on the company of $6.9 billion. Spread over 168
    million shares, that implies a breakup value of over $41
    a share -- or nearly half again the current
    quote."

    $5.1 bil for packaging???? What are they smoking in
    Greenwich? My guess is that it's worth less than half that.
    Automotive might be sold for $3 bil if they can find a
    buyer. That puts breakup value at around 25. Who says
    the stock market isn't efficient?

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