Castle & Cooke, Inc.Castle & Cooke, Inc. Cruttenden & Co. believes the break-up value break-up value n (COMM) → valor m de liquidación break-up value n (Comm) → valeur f de liquidation of Castle & Cooke is in the $50 to $55 range per share. The stock is currently trading in the neighborhood of $35. However, Cruttenden, a Newport Newport, town, England Newport, town (1991 pop. 19,758), Isle of Wight, S England. It is also a port and the commercial center of the island, with agricultural markets and light industries (plastics, soft drinks, and woodworking). In the 17th cent. Beach-based investment bank, does not expect a buyer for any of Castle & Cooke's businesses, including Dole dole, distribution to the poor, usually of food or money. In medieval times doles were usually from bequests of money or land, and the income was given to charity or distributed to the local poor at funerals. Food Co., to emerge soon. The scenario Cruttenden foresees is that Dole will be spun off to existing shareholders on a one-for-one basis by the mid- mid- pref. Middle: midbrain. 1990s. During this period the shares of Castle & Cooke will probably move up to the $40 range, Cruttenden predicts. After the break-up, investor psychology could push the combined price of the two resulting companies to the $50 range, the report adds. However, don't look for either Dole or Castle & Cooke to then be taken over. Without such an acquisition, the price of either company could suffer as arbitragers lose interest, Cruttenden suggests. Cruttenden dismisses the likelihood David Murdock, Castle & Cooke's chairman, will take the company private. Instead, they suggest he would do better to pick up shares in the open market when the stock price softens. If Murdock does buy shares in the open market, speculation he will take the company private will build, fueling the stock price, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Cruttenden. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion