They have been burning through their cash. Several years ago, they had close to $200M. Company is in a death spiral from poor management. This deal is only to benefit the executive management who will make millions in buyouts. The new CEO did a great job ... for himself. What a sham
And just what do these shareholders believe represents a "fair" price???
I guess its too much trouble to just call a vote amongst the shareholders to decide if the $37 dollar offer represents fair value.
Makes you wonder with Sarbanes Oxley, SEC reporting requirements, annual external audits this federal agency, that state agency, various kings and queens of any number of local districts all legislating, mandating
this rule this regulation why anyone would engage in a business venture today. We have long passed the point of diminishing returns with yet new regulations and reporting requirements constantly bestowed upon us bureaucrats trying to create something to justify why they are being paid and to crow just how important they are. .
My stockbroker says hold on-there is some hanky lanky going on ( he holds Asei stock as well).
He said this is far from a done deal. Don't forget us stockholders still have to vote on this.
How can people hire a law firm that writes this in the announcement or am I missing something?
"Under the terms of the offer, American Science would acquire OSI in a transaction valuing Envision over $269 million. Pursuant to the deal, American Science stockholders will be offered $37 per share in cash."
I recently purchased ASEI in search of something that offered a decent yield,and had a rock solid balance sheet.
Too good to be true, I guess.
So the proposed sales to OSI saddens me. But what angers me is yet another legal vulture has appeared to conduct yet another investigation.
How many more vultures (excuse me legal firms) will yet appear and all due their respective "due diligence" (circle the company to see what fees can be derived) all doing essentially the same thing?
Who hired these firms to represent the shareholders?????? I trust that some fellow shareholder with a significant stake (defined by me as at least a 2% shareholder) did.
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It indicates inept Chairman of the Board of Directors and directors/management in general!! What a rip off of share holders! I guess only the board is going to make out on this deal. Remember also that the company has to pay big bucks if the deal doesn't go through - so it really is a lose - lose situation for all of us.
Don't forget we lose our hefty dividend since Osis does not pay one. Hopefully, the shareholders can block
this mockery of a takeover. Already three law firms are looking into this takeover and this is day one.
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Chuck is the worst CEO ever. He is alone responsible for bringing the company down to its knees. He had only 2 options left ..either to bring the company back to profit which this moron cannot or sell the company which he did.