Looks like the bidders are getting tired and I expect one of them to throw in the towel soon. There has to be a level where the auctioneer puts the hammer down. $46 or so seems like close to fair value. Wish I hadn't jumped the gun on my sale, but that's life. Still made some money, but hated to leave that much on the table.
A lawsuit has been filed in State Court in Illinois. Any shareholders who have questions, or want to get a copy of the complaint along with how you can join with other shareholders seeking a higher price are encouraged to call Gabriel M. Selig, Esq. 1-802-855-1353. (Attorney advertising)
upper management has one goal, and one goal only and that is to line their pockets. They watch out for themselves and their future. The rest of us just get the left over scraps and cast off to the side!
sounds good...here is their number again just in case 1-877-772-3975...welcome aboard...the more the merrier
I will give that law firm a call and go from there. Seems a lot is going on that the company has kept a secret and has certainly not given it's shareholders a fair shake or so it appears. What other surprises can shareholders, past and present expect?
The lawsuit has been filed in State Court in Illinois. Shareholders who would like a copy of the complaint along with an explanation as to how it affects your rights, along with how you can join with other shareholders seeking a higher price are encouraged to call Tripp Levy PLLC at 1-877-772-3975. Attorney advertising
Marla i believe its trading above the $41 price because they think that Imerys is going to have to up its offer price but the way management is acting it doesn't look like they will get into a bidding war. They should be selling this company for at least $45. I contacted the Tripp Levy firm and they were pretty knowledgeable and helpful. Here is their number in case you want to call. 1-877-772-3975
The insiders always have the edge , they never loose out . Just look at their track record in trading. Buying stock and having turn huge profits in a very short time! Just look at John Hughes's and Larry Washows trading history over the years! How do you say , " clean house and flush the Toilet " in French !!
Can someone please explain to me why the stock would be selling so much higher than the $41.00 they say will be paid for each share? I sold more than half my shares when the price went up but I still have some left. I will contact one of the law firms to try to get more insight into what they expect to do for shareholders. This is quite a surprise for amcol to do what they are doing. They have always been good to us in the past. Appears since Larry Wishow left, things went downhill. Thanks for any insight you would be willing to share.
I am with you Amcolguy. The only problem is, I sold all my shares when the buyout was announced and the lousy management assured us that it was a done deal and approved by both boards. I talked to one of the legal firms and they sounded like I didn't have any recourse after selling my shares. So I guess I am stuck sitting here looking at higher prices with no way to join the suit. Oh well, that's life I guess.
This is outrageous what management is doing. They just made a statement that even though Material's offer is higher that It will "pursue the course of action that it believes is in the best interests of the Company's stockholders." This is code for we are sticking with the lower offer cause its in "our" (meaning managements) best interests, in my opinion. They don't give a #$%$ about shareholders. Count me in this lawsuit!
Tripp Levy PLLC, a leading securities and shareholder rights law firm that represents shareholders throughout the nation, announces that a lawsuit is being filed on behalf of shareholders of AMCOL International Corp. The lawsuit alleges breaches of fiduciary duties on the part of the board of directors of AMCOL in connection with its agreement to be acquired by Imerys S.A.pursuant to which AMCOL shareholders will receive only USD $41 per share in cash. This is despite the fact that Minerals Tech has offered $42.50 per share. If you are a shareholder of AMCOL and would like a copy of the complaint along with how you may join with other shareholders at no cost or expense please contact us toll free at 1-877-772-3975 or visit our website at tripplevy. Attorney advertising.
I don't think Larry Washow would have botched this buyout like McKendrick has. What a mess. Guess I am just mad that I left money on the table, but still, they should have negotiated with both potential acquirers at the same time.
Steve, you are so kind in quickly sharing your opinion and knowledge with me. I cannot thank you enough for your help. I always look for your comments. They have been very helpful to me. And insightful as well.
Well, I would say there is no hurry to bail out. The WSJ reported tonight that a company named Minerals Technologies has made a competing offer at $42 per share. Looks like I may have bailed out too soon. Seemed a little funny that it was trading above the $41 offer price. As far as the lawyers go, I wouldn't count on them much. They are really ambulance chasers that show up for every buyout. Amcol has probably already gotten the blessing from the big holders for the deal, so it's pretty sure to go through. Good luck.
Steve, is it best to bail out now? Or jump on the bandwagon and join the investigation? Thanks for any insight you can give me.
It's been a decent investment. I have been in at least since 2004, but sold them all this morning. Hard to find really exciting ideas right now. Will take a little time and look for some interesting companies.
I too find it interesting that the directors exercised their options just before they announced this deal. Also, the stock is now trading at $14.30 which could mean shareholders think the price is low and that a higher offer is warranted.