[goodguy_1]

[ QUOTE ]
This reflected some uncertainty about whether a deal will take place and considerable certainty that if it does occur it will be well below the flotation price.


[/ QUOTE ] hahah the stock was floated at 175p.

I cant see Party paying a premium to the current price or even the current price.. bunch of arbs,and specultors in it now shorting PRTY and getting long EOL..Could be a bit of a drag on PRTY's stock in the nearterm even thu the deal would be small compared to Party's mkt cap. Investors could be worried that Party may overpay for Empire which imo is now a piece of crap.

I was thinking about getting short EOL.L yesterday about an hour before the UK close but my broker could not get a borrow on the shares- this was CSFB also not some crappy discount broker. Stock peaked yesterday morning ~130p right now its down to 108p.

I dont see value at these levels for a Party buyout. I figured out the shares outstanding/market cap. yesterday from another of your posts from a press release. Seems to me this stock will go down much further before Party pulls the trigger. Is Empire really worth $500-$600M or even half that. You said earlier that EOL would be profitable business without it's Skin Network poker operations thats doubtful but I'd like to hear more of your thoughts on this idea.