Although the shares sell at a discount to real market value, management has announced it will issue 10 percent more shares to help finance a diversification program. • The division that was expected to be sold for $20 million only brings $12 million in the actual sale. • The reduction in the corporate tax rate considerably reduces the value of the company’s tax-loss carryforward. • Institutional ownership has risen from 25 percent five years ago to 60 percent today—with several Boston fund groups being major purchasers.
