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From: George Jacobson
Time: 4:40:52 PM
We recently bought out another company in our industry and the lawyers told us that we should get a "fairness opinion" relative to the transaction's fairness to people on both sides of the table. A brokerage house came in and did the work. They wrote literally nothing, I think it was a page or two after sending a team in here for about 3 weeks. By the way, they did the same thing a the company we were buying. What's with this stuff, is this just another way for you guys in the securities business to make more money at our expense? Whats the lowdown?