Letting this technology go seems nuts. Check out this article that just appeared in the WSJ a couple of days ago on the Chinese purchasers. The article doesn't even mention they bought GNOM. http://online.wsj.com/article/SB10001424127887324162304578303992108696034.html
They are going to town with this technology...but maybe their discoveries will benefit us all...
Oh yeah...I forgot to mention....I had my stock pulled out of the tender offer and sold it last week...once they announce a new extension you can pull your stock out. If your stock broker says they can't do it call 888-750-5834. It's a law firm that handles the tender offer. Someone answers during business hours...and not a recording and not a receptionist. A real live honest to God knowledgeable human being!!! Amazing. They checked, said it can be pulled and if the broker had a problem have them call them. They quoted specific sections out of the offer allowing it. I called Fidelity...and they pulled it out and 24 hours later I sold it.
Yeah, I pulled my shares from the offer and sold them yesterday because I believe that the delay tactics that are being employed will eventually hurt us if they eventually pull out and the deal fails to go through..you just cannot trust China..they have hurt us too much already.
I share the same disgust like many others here ... and who wouldn't be, when their funds held by the delayed sale could have been better used to invest elsewhere. I may not be holding many shares but there are definitely many investors out there who are holding many lots in the hundreds and thousands.
Could anyone kindly advise how I could reject the offer so that I could rid the shares in the open market? Would I have to go through GNOM or my broker? Thanks.
I wish that our FTC and more of our Congress thought like you, and I wish that they would have thought more like you about 2 months ago.
Since the CFIUS decision back in December, I have read a couple of articles which show that the Chinese aren't making noises like they are our benevloent friends, harmlessly seeking a few good deals to improve business for them.
Anti-satellite missile technologies, improvements in long range rocket and ICBM technologies; heck! they recently were "lighting up" Japanese sea vessels with fire-control radar in disputed island areas. Hardly benevolent.
I'm certain that our Congress made a real mistake here in allowing the sale of GNOM; and they didn't just hand them the keys to something small, either. GNOM was the first approved acquisition of a US public company for China. Great for Big-Dragon, not so good for others.
The lack of company developments since the deal (other than BGI approved press statements) should be VERY concerning to folks here.