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jmspaesq

05/31/03 5:46 PM

#29798 RE: F6 #29796

F6:Good Point I Agree but....

My point is that it is awfully hard to evaluate a deal sight unseen.

I HATE to agree with anything GeJim said, but actually I said it first so he was agreeing with me even though he didn't realize it: I guess it depends WHO we're talking about.

Sometimes little companies take over bigger ones.

If someone sees IDCC as tremendously undervalued, they might well buy it out.

The flaw in your analysis is that it pretty much assumes that we'd only be taken over by a bigger company. And that isn't always the case.

I think that it may be a mistake to believe that an acquirer would not realize the full potential of a fully valued IDCC--after all that's why they would want to acquire us!

And IDCC realizes it too--so I wouldn't assume that wouldn't be included in any takeover valuation.

But the basic point is that I don't feel it makes any sense to take a position one way or another until we're dealing with something real that we can more sensibly evaluate rather than blue sky hypotheticals about unknown companies and unkown terms.

I think IDCC is always open to offers--anyone should be. And they can always say 'no thank you' if the deal isn't any good.

Going to dinner now!

joel