Thursday, March 17, 2005

2 offer updates

SAP earlier today increased its bid for Retek, to $11/share from its original $8.5/share, to match Oracle's $9/share bid.
Oracle followed up a few hours later with $11.25/share. Retek shares are trading at $11.7 showing that the markets expect more to come. I think that the final offer will be in the $15 vicinity. At $11.7, Retek is now trading at a 220% premium to my average cost.

Qwest made another offer for MCI valuing it at $26/share. MCI will respond in a few days, but Qwest has gone too far with this revised bid. While the increased cash portion and other terms are attractive to MCI shareholders, this is bad for Qwest well-wishers. This revised offer represents a 56% premium over my average buy price of $16.7/share. Including the dividends paid over my holding duration, the total return is a bit higher,


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