Hamradio
02-19-2004, 08:08 AM
Comcast Seen As 'Dead Money' In The Near Term
Forbes.com staff, 02.19.04, 10:19 AM ET
NEW YORK - Banc of America Securities said Comcast (nasdaq: CMCSA) is "dead money near term" and advised investors to not chase shares of The Walt Disney Co. (nyse: DIS - news - people ). Banc of America said Comcast isn't done trying to acquire Disney and will "eventually raise its bid slightly, adding a cash component." Comcast will bide its time at least until the Disney shareholder meeting on March 3, said Banc of America. The research firm said, "If Disney CEO Michael Eisner fails to receive broad shareholder support (which seems likely), Comcast may regard this in part as a mandate to move forward with its bid. In the absence of another bidder materializing we expect that the process could drag on for a long time."
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Forbes.com staff, 02.19.04, 10:19 AM ET
NEW YORK - Banc of America Securities said Comcast (nasdaq: CMCSA) is "dead money near term" and advised investors to not chase shares of The Walt Disney Co. (nyse: DIS - news - people ). Banc of America said Comcast isn't done trying to acquire Disney and will "eventually raise its bid slightly, adding a cash component." Comcast will bide its time at least until the Disney shareholder meeting on March 3, said Banc of America. The research firm said, "If Disney CEO Michael Eisner fails to receive broad shareholder support (which seems likely), Comcast may regard this in part as a mandate to move forward with its bid. In the absence of another bidder materializing we expect that the process could drag on for a long time."
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