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SPX Corporation Message Board

  • therightstuffdood therightstuffdood Nov 18, 2004 2:58 PM Flag

    RECENT ASSET SALES, HUGE CASH $2BILLIO

    LIKELY CANDIDATE FOR A TAKEOVER BID, IMO

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    • Do you even realize that SPX was $2.6 Billion in debt. They are not cash rich as you assume. The $2 billion is suppose to go to pay down said debt. Did you even read the pr put out by the co.

      • 2 Replies to ffs103
      • Re: Barron`s (11/22)

        Edwards sale might realize only about $950 million in after-tax proceeds due to deferred-tax liability attached to Edwards assets.

        In addition, SPX is sacrificing more in future profits from the unit than it will gain in interest savings from debt retirement and reinvestment in its other businesses.

        According to Barron`s,liability stems from earlier restructuring and special acquisition charges to defer taxes and pump up SPX operating cash flow.

      • Form 8-K for SPX CORP


        --------------------------------------------------------------------------------

        18-Nov-2004

        Entry Material Agreement, Other Events, Financial Statements and Exhibits

        Item 8.01. Other Events.
        The Press Release included an announcement that the Company is withdrawing its 2004 earnings per share guidance. The Press Release is incorporated herein by reference.


        OK- let's see a show of hands... How many division heads/ department managers/ salespeople are able to "withdraw" their sales forecast at SPX??

        What's good for the goose ain't good for the gander??

 
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