Watch for an eventual break up and buyout
From Starboard's shot across the bow PR today:
"In the case of AOL, we highlighted the value of the company's intellectual property portfolio and urged the company to explore opportunities to monetize these assets. Subsequently, on April 9, 2012, AOL announced the sale of a substantial portion of its portfolio to Microsoft for $1.056 billion and the stock price increased 43.3% on that day alone. In the case of MIPS, we took action to make changes to the board of directors and advised the company to explore strategic options to separate the operating business from the intellectual property assets. On November 5, 2012, MIPS announced a two-part transaction which included the sale of the operating business and the intellectual property assets to two separate entities. From August 21, 2011, the day prior to Starboard's 13D filing, to February 7, 2013, when the transaction closed, MIPS' stock price increased 85.4%. In the case of Unwired Planet (f/k/a Openwave), we: (i) made significant changes to the board of directors, including my appointment as Chairman of the Board; (ii) replaced management, including a new CEO; (iii) exited the company's failing product businesses; and (iv) completed an industry changing transaction with Ericsson that resulted in Ericsson contributing 2,185 US and international patents and patent applications to Unwired Planet's existing portfolio of 200 patent assets. "
I USED to also own MIPS, got stuck with a 35% loss when they were forced to accept a buyout . While I highly doubt TSRA's pps will almost double from Starboard's 13-G price of ~ $16 like MIPS did, if it goes up ~ 50% I can dump this POS and exit break even, at least, been dead money almost from the days I bought it.
Anyone else here up for a buyout if the price is right?