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Berkshire Bancorp Inc. Message Board

  • douglas01720 douglas01720 Jan 3, 2005 10:41 AM Flag


    About to be merged? Purchase price $30 per share?

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    • Would you be content with $30.00 I would not,
      on the valuation basis of other bank buyouts

      what makes you think that a merger is in the works?

      • 1 Reply to bittersweeeet
      • I don't have specific info, but: Moses Marx is 69 years old and owns a near majority of its stock (49%). His owning $23 million of illiquid stock is not great estate planning. He's thinking that its time to find a merger partner and put his money in place more readily managed and liquidated.

        Perhaps $30 is too cheap an acquisition price, but Berkshire may only be an attractive acquisition to a major player already in the NY metro market.

        Aren't the bank's major assets that it has been conservatively run and has a U.S. government agency debt-laden balance sheet? It's small (?) customer base and few retail banking properties are not the major attractions.

        These are speculations and not based on thorough investigation. I bought stock following the lead of the bank's insiders a few months ago, liking the price action and with a sense that paying 1.1X a solid book value was not likely to go wrong.

        What are your thoughts?

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