One more as of this morning. lolol.
Go check Oplink, (OPLK) who this same hedge fund forced a sale, same group of ambulance chasers on that one also. Take your money and find the right time to rotate into the oil sector.
So many law firms are going after SIMG! Management and the Board better put on their jock straps! I have never seen this number of law firms involved in potential shareholder suits. This does tell you that something is amiss.
With the 1.91 per share cash. LSCC is really only paying $5.40 per share net. really cheap.
I've been a shareholder in other M&As and they always offered the option of cash or equivalent shares of the buying co. How come we don't see this option in the PRs?
I contacted one of the law firms and they said if you join the suit you need to hold on to some of your shares until they are involuntarily taken! That "involuntarily" sounds horrible.
All this is FYI.
Hay One ! dig down to the "News" headlines of 12/18/2014, that drove the stock "DOWN" ! Do you smell something ? That headline was minor for that drop. You think someone had to approach SIMG with an offer before then ? Your the one that came up with this news (post & other posts) long before yesterdays buyout news. well either way the Lawyers are in it now, we'll see. Keep up the good postings.
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Just enjoy the money you have made. If you read the press release written by the lawyers (Skadden Arps) you will find all of the correct due diligence verbage. The target price is more than 20% higher than the day earlier closing price, and more than 35% higher than the past 90 day average price. I'm sure all the avidavits are in place which shows a range in value for SIMG from the investment banking community with $7.30 on the high side. These legal reviews seldom result in lawsuits and if suits it's even more rare that they result in eventual success. We are dealing with a small value take over of hardly more than 1/2 billion dollars being represented by one of the best and oldest M & A law firms in the U. S. (Skadden Arps) . So either sell your shares now to the arbs or wait for your check. Either way you win.
It takes lot to make acquisition happen, that means, there is no expected price change from now to March ... so it seems good to sell the stocks at $7.29 and invest somewhere else or wait till closure in two months get additional $0.01 for waiting or may be even buy Lattice if you are so bullish on SIMG.
He is right. All the possible suitors were aware of Simg's status. If there was a larger bids the BOD would risk many lawsuits by not exploring them. They would never risk that. The problem here is that many posters were just too optimistic. I read $10 - $12 which was totally off the wall. I don't see a bidding war which means that we are stuck with $7.30. Remember what this stock will sell for if the bid is rejected. $5.30? cheers
it's waaaaaay too cheap and ttoo many lawyers causing this one to get tooooooo much light shined on it.
Management come out looking real bad; except that White Knight GOOG or Intel will cause true value to become apparent.
Anyway, I'll be talking to one of these lawyers or find one more of my own.