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Consolidation Plays
COMPANY NAME PRICE* P-E** COMMENT
FINANCIAL SERVICES
EATON VANCE $44 3/8 18.1 Assets under management grew 42%
in last year
IPC HOLDINGS 29 5/8 8.2 Bermuda reinsurer with no debt;
George Soros a big holder
COMMUNICATIONS
ALIANT 23 1/16 15.1 Diversified telecom company;
COMMUNICATIONS strong cash flow
HEFTEL BROADCASTING 36 7/8 83.9 Spanish-language radio-station
operator
HEALTH CARE
EXPRESS SCRIPTS 75 7/16 29.4 Pharmacy benefit manager
took over Columbia/HCA unit
NOVACARE 10 13/16 13.8 Medical-rehab employee
benefits provider
UTILITIES
ROCHESTER 3 15/16 13.4 Deregulation getting under way
GAS & ELECTRIC in New York
UNITED 48 5/8 13.9 New CEO bent on embracing
ILLUMINATING competition
*June 1
**Based on estimated 1998 earnings
DATA: HOULIHAN LOKEY HOWARD & ZUKIN, MORNINGSTAR, BUSINESS WEEK, BLOOMBERG
FINANCIAL MARKETS
RELATED ITEMS
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Updated June 4, 1998 by bwwebmaster
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