Many years back there was an up and coming Bendix Corporation that was on a take-over spree.The mistake that was made was in having their stock undervalued.Bendix accumulated cash in preparation for a major takeover. The target takeover used the assets of Bendix, itself, to finance Bendix's takeover. (The worm turned!)Bendix was forced to go to a friendly company and allow itself to be taken over by the "White Knight".Corning has over $3 billion in liquid assets. It has a forward P/E of about 12. It has diversified products that could double earnings growth for the next two years.If Corning management lets its share price drop it would be a simple matter for a takeover financed by its own valuation just as Bendix's was. Management would lose its "golden goose".Maybe it wouldn't be too bad to be owned by General Electric? They manage a diversified company very well.
Re to:gonag"Maybe it wouldn't be too bad to be owned by General Electric? They manage a diversified company very well."They have a total return for 3 years to date of +4%They are so much smarter than GLW it makes sense to go with them. Proven success. Oh yes, that 4% included dividend reinvested. That is just over 1% per year. Gotta love it.-chart-
4% in 3 years....sounds crappy to me.You must be joking!!!! Hope you're feeling better these days!!!
Is money so important? (:-<)Next time I'll check. Thanks for the info!
There are many companies in that boat. BRCD has almost $1BB in liquid assets and has a mkt cap of only $2.5BB. The list goes on.
GE, giter done! Please.