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Dover Corporation Message Board

Investor_CPA 4 posts  |  Last Activity: May 13, 2014 4:08 PM Member since: Feb 1, 1998
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  • Reply to

    I am concerned they paid way too much for B27

    by investor_cpa May 13, 2014 10:52 AM
    investor_cpa investor_cpa May 13, 2014 4:08 PM Flag

    Looks like David Little agrees with me. He said they paid $100 million too much on conference call. OUCH!!!
    Stock lost $580 million in market cap today.....iIs Wall Street wrong?

  • When the CEO is surprised by the performance of the Company, this is disturbing so I sold at the open at took gains. He should know how the Company is doing....I don't think the math adds up on the B27 acquisition based on their guidance for revenue and EBITDA....This is a HUGE acquisition which they took on a lot of debt (and there is a lot of blue sky in Goodwill hat could end up being worthless). I think this one has further to fall and it begs the question whether they got snowed by B27...it certainly looks like they got the better deal based on this first quarter, unless their business is highly seasonal, with relatively no sales in 1st quarter.

    Sentiment: Strong Sell

  • investor_cpa by investor_cpa May 2, 2014 12:51 PM Flag

    Wow, what an ordeal! Waiting to sign the deal just cost shareholders at least a $1 per share. I'm glad I sold when I did at $19.50. Frankly, if this deal wasn't signed, I think the stock would be at $15 right now. This was a poor quarter and if it wasnt' for the life insurance proceeds on death of founder, this would have been a break-even quarter.

    The company is clearly struggling and not getting any new deals done. It is a hard case in my opinion that taking this deal is not in the best interest of the shareholders now, given the premium Mill Road is paying. Greg Tunney is a great leader and it is sad that its run as a public company has to end now as I was hoping to reestablish my position at $15 if offer rejected...I think this decision took far too long and I suspect RG Barry was trying to get a tailwind at its back from operational standpoint to ward off Mill Road offer, but timing did not work that way. Oh well, good luck Greg...I will continue to follow you and hope you end up at another public company down the road.

    Investor_CPA

  • I hate to say "I told you so" but anyone who would've listened to the last conference call shouldl've known that management is not looking out for the shareholders' interest. That came throught loud and clear.

    Warren Buffet would call this stock a "used cigar butt" - just because it is cheap, does not mean it has value. Good luck to anyone who allocates capital to this company..

    Sentiment: Strong Sell

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