“In this climate, where optimism about the tech sector is again riding high, it’s all too possible that AOL could actually fetch $10 billion — and perhaps a bit more. But in truth, the company may be worth no more than $6 billion. Even if we take the midpoint between $10 billion and $6 billion, we get $8 billion. There is no good reason for AOL to go for any more than that.”
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