That search has helped the equity markets, where companies have been fetching top dollar for new stock issued to the public.

Analysts expect the company to fetch around $1.2 billion, or $50 a share.

It is possible that the company could fetch more than $2 billion, based on its stock value.

They believe the company would fetch at least that much if liquidated, and could hit $20 if things go well.

The break-up value is what a company might fetch if all its parts are sold.

Some analysts in London said the company should fetch even more, though.

Salomon argues that the company could fetch $45 to $55 a share.

At that level, optimistic investors seemed to think the company could fetch $65 a share in a buyout, or even more.

Mr. Graham estimated that the company would fetch at least $60 a share, or about $5 billion.

Comparable companies fetch about six times historical earnings or close to their book value, analysts and investment bankers say.