From Esposito Global - offer of $8.00 cash--- I still think that is too low. Book value per SWS is $9.57. I'm looking for $11-12. to agree to sell (I'm still underwater at that price)
With a $7.00 a share buyout offer and the stock now selling at $7.96- doesn't look like a deal in the offing. I think $12.-$13. is more realistic(I'd still be underwater)
it came from yahoo chart....does not reflect the warrants outstanding so your # is correct. it seems like a premium to book is in order. I saw a post on the news section as to a law firm wanting to investigate the board on the offer. I am under the impression that the board was not advised of the offer prior to receiving it. Seems like they have a fiduciary obligation. The question is, does this bring other bidders? The stock is trading over the $7/sh price so indicates the market thinks it is too low.
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I agree- offer is way under actual value-but Yahoo shows book value at $9.64- where did you get "over $11."?
Hard to believe board and shareholders would approve such a low offer.
Seems like this offer is undervalued. Book value shows to be over $11/sh.
the Board to meet to discuss....looks like they at least have to counter at book or even better.
This is an interesting phenomenon--looks like a bottom fishing expedition.
anyone else have some insight?