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i , too, see the deal much as runninfoolishly does in an earlier post. i put a slightly higher value on seg, but, as i say, more or less the same. now, i differ in one respect: there is no question that current shareholders are getting royally screwed but seg management in this deal. i've been in and out of seg several times over the last few months (profitably, except for stock i bought friday afternoon). right now, the stock is totally controlled by the vrts offer and the price of vrts. however, at some point (say vrts goes to 90 ) seg could in theory be trading in the low 40's. thus making all the talk of "unlocking " shareholder value so much bs. here's my idea: emc. emc (see last barron's) and vrts are cooperative potential competitors. by buying seg, emc woould get 1. a controlling or at least an influential interest in a future competitor 2. own for next to nothing the most dominant disk drive company not named emc. i would think they could pay 75-90 in stock, pick up over 1.5 bn cash, 5-10$ per share worth of this and that,plus, obviously, the vrts. i have no idea wehether anyone is looking at this (investment bankers), but i think it could make a lot of sense.
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