Crack pipe. This guy is dead on. Buyout at $43. Management too comfortable with their very cushy jobs and BIG payrole. People afraid of change inside the company sends rumors that a takeover thus working for AT would mean horrible changes and worse working conditions. Obviously in retrospect the employees at CT would have made much more money from the buyout and appreciation of stock price.
to take care of all lawsuits. If this is done completely and efficiently, this company and its stock will move upward. CRY had a great product before the lawsuits, so why not after. Take care of leagal business and watch this stock hit 20 a share. Good luck.
sold the company at $43 share. CTL board could have probably asked for $45 and "got" it. This is not in retrospect. Everyone new CTL was out to sell is cell side of the business. Now what you have is a fine company with plenty of good employees with almost no growth potential. There will always be business for CTL "but" as the other cell carriers add towers to what where remote locations, land lines and services attributed to it, will become obsolete. Once again, "no" growth. As they lose customers, ever so slowly, revenue will shift to the wireless where the real growth will be. EPS will show this over the next 6-8 quarters. Good Luck.
I have a friend who is a dentist. He makes big bucks. He sold his 250 shares on friday. He told me he will get back in @19 in a couple of months. If he can make $90,000 a year, he sure can pay for strong financial advise. This is the suggestion he got from another dentist.
Information below is the amount of shares owned by institutions:
% Shares Owned: 71.80
Price Range Quarter: $27.06 - $38.50
% Change in Ownership: 7.38
# New Buyers: 22
# Institutions: 282
# Closed Positions: 35
Total Shares Held: 101,291,712
3 Mo. Shares Purchased: 16,643,508 # Buyers: 124
3 Mo. Shares Sold: (9,684,819) # Sellers 140
3 Mo. Net Change: 6,958,689 # Net Buyers:16)
Information of MulTex Investor Services
I am not an expert like Louisiana nwa1961 but as a guess, in a terrible market with 43 on the table(unsweetened), institutions are going to take a long look at this. This may be their only winner this year. Execs at AT will be trying to hammer out a deal that will make the institutions happy and get a 51% vote. They are not going to go to us, the people that have 300 shares and so on. By the way, I contacted investor services at CTL and asked Jeff Glover (email@example.com) how much common stock is owned by insiders. He e-mailed back and said 8-9%. Not 44% nwa1961.
If this (a) deal is not put together, I will be very surprised.
Also, NWA1961, if there are 6860 employees and 141 million shares outstanding and the employees own 44% (62,040,000) that would mean that each employee would average an ownership of 9044 shares. 9044 shares times 35 dollars a share is $316,530. I do not have that much in my esop program.
Where did you come up with CTL employees own 44% of the shares in the company. Please tell me where you found this info.
Here is what I found.
Century Telephone Institutional Ownership
% Shares Owned 71.80
# of Institutions 733
Total Shares Held (Mil) 101.248
I find it pretty tuff for employees to own 44% when institutions own 72%. Top managment and board own a little over 4%.
Sweeten the offer and get investor Mario Gabelli on board, it is a done deal.
"People from Little Rock have very funny ways of making love," Gabelli said. "If Alltel wants to make love to someone from Monroe, La., they should go with a bigger bouquet. (CenturyTel president and CEO) Glen Post did exactly what I would done -- which is nothing."
Gabelli said while he finds the prospects of a merger between the two companies "attractive," he believes CenturyTel is worth closer to $55 per share.
72% of all common shares are held by mutual funds. There are many close to retirement workers at CTL. They have seen their company's stock go no where for over 2 years, in fact go down. The telecom industry as a whole may not come out of this mess for a couple of more years. With two of the top executive making over 1mil a year, they for sure do no want to see this deal done. My gut feeling is that a majority of ctl workers will vote for a merger with AT with a 4-5 point sweetened deal. At that point, a sure deal with employees. The key here is institutional ownership, 72%. The general market is in the toilet. The funds that own CTL are going to push for negotiating a deal. They have to watch out for shareholder value also. Once again, sweeten the offer AT and I think you will have a deal.