Absolutely not!!!! You can count at least 7,500 shares as voting no. And I assume I won't be the only one . . .
TSRI has such a tiny float, less than 1M to be exact and could really take off. Shorts have been unsuccessful at brining it down and they are now stuck waiting for the stock to hopefully selloff. Any upward momentum could push TSRI into new territory due to a short squeeze.
I really appreciate you sharing your input, thanks so much!!
nclag, I nominate you to serve as lead plaintiff. There is no one who is more knowledgeable about, and knows more about the potential value of this company, than you. I hope you have spent your time off from this board over the past couple days interviewing law firms . . .
I am actually quite hopeful that this deal will either be restructured as a result of the shareholder lawsuits, or voted down by shareholders, as the proposed purchase price is grossly insufficient. Call me crazy, but I have been accumulating at the money calls in anticipation of a higher sale price.
My understanding is that this deal requires approval of the shareholders of Aruba Networks. If and when a majority of the shareholders votes to approve the deal, you would receive $24.67 for each share (at the effective date). If held in a brokerage account, the transaction should occur without any commissions or transaction fees being deducted.
Generally speaking there is a small differential between the share price before the effective date and the buyout price representing the time value of money and the possibility that the deal may or may not happen. If you believe this is a done deal, and that there is no real possibility of a higher buyout price, you may simply want to sell at this point and invest elsewhere.
If, on the other hand. you believe, as I do, that the proposed sale price of $24.67 is grossly insufficient, and that the Board of Directors of Aruba Networks has breached their fiduciary duty to act in the shareholders' best interests in entering into the merger agreement with HP, and has instead put their own financial interests ahead of those of shareholders, and you believe there is a chance that another suitor may become involved in bidding for Aruba, or that shareholders may obtain some traction in the Courts in their attempts to have the company "shopped around", then you may wish to hold on to your shares. HP is not getting my shares for $24.67 without a fight. I, along with a majority of ARUN shareholders, voted no in 2012 for CEO Orr and Director Guidon's re-election to the BOD, because of the fact that they continually put their own interests ahead of those of shareholders by treating the company as their own personal ATM machine, and I am hopeful that once again I, and a majority of ARUN shareholders, will vote no to the merger. I cannot think of one legitimate reason to vote for this "sellout" by management. Mr. Orr can choke on this deal as far as I am concerned.
Is it when the deal is officially closed the owners of the shares will get 24.67 per share? So is that guaranteed? So if I have a couple thousand shares now below 24.67, is it best to hang onto them for when the deal closes to get that 24.67?
Continued - Part 2
For THREE LONG YEARS since writing that post, many of us stuck by this Company, through thick and thin (and there was a helluva lot of thin!!!), convinced by countless hours of our own personal research that Aruba’s superior technology would ultimately win the day. In bitter irony, just one trading day before announcing the HP deal, mgt finally delivered on its promise of increased operating leverage and profitability with a stellar earnings report which showed great promise for the company and its shareholders! Then the sellout!!!
I sincerely hope that all other shareholders who stuck by this company through very difficult and challenging times, whose potential profits are being stolen from them by this traitorous Board of Directors, are similarly outraged at Messr. Orr and the BOD's blatant breach of fiduciary duty to their shareholders. The BOD is selling this company to HP for less than I paid for some of my shares in the summer and fall of 2011, and for significantly less than numerous Wall Street Analysts had valued the company based on future earnings potential and expectations.
This deal is so rotten for shareholders, I can only hope that it is torpedoed, similar to the November annual meeting, where a majority of shareholders did not vote for Messrs. Orr and Guidon’s re-election to the BOD. The company has put out all kinds of publicity pieces on how great this merger will be for Aruba Networks. I agree wholeheartedly will all of the points. I think it is a great combination. But give me ONE REASON why this merger is good for Aruba shareholders! NOTHING! ABSOLUTE RADIO SILENCE! That speaks volumes.