Spotted the following this afternoon.
Reminded me of shorting this puppy (Iomega) back in the late 90's
No real reason for the stock to be over $100
Got on the old Compuserve boards and started asking questions. "Believers" were looney... talking about Gillette model of giving away razors to sell blades.
NOT
This company was a short term blip on storage devices, and giving away media to sell players.
"EMC Corp. reached a deal to buy data-storage firm Iomega Corp. for $213 million in cash, scuttling a deal Iomega had made previously with a group of Chinese companies.
The two sides agreed to the deal after EMC sweetened its offer to $3.85 a share. Iomega turned down EMC's original offer of $3.25 a share in mid-March, saying it wasn't enough to overturn a takeover agreement with a consortium led by ExcelStor Great Wall Technology Ltd., which would have given substantial control of the company to the Chinese government."
The two sides agreed to the deal after EMC sweetened its offer to $3.85 a share. Iomega turned down EMC's original offer of $3.25 a share in mid-March, saying it wasn't enough to overturn a takeover agreement with a consortium led by ExcelStor Great Wall Technology Ltd., which would have given substantial control of the company to the Chinese government."
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