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Flow International Corporation Message Board

  • rincon_pr rincon_pr Mar 27, 2013 5:12 PM Flag

    Otter Creek Writes Letter to Directors of FLOW

    The 8-K filed today contains a letter from 5.1% shareholder Otter Creek. In it, they are critical of management's performance and suggest the firm hire an investment bank and pursue strategic alternatives, including the sale of the firm. The stock traded up after hours, with some shares trading over $4 before falling back.

    The odds are that nothing will come from this activist effort. However, you never know...

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    • This was tried before by a bigger much more in your face stakeholder with very little impact on board.

      • 1 Reply to jeefco2004
      • I agree, this board has and probably will continue to resist any activist shareholder efforts. The only way something happens is if Otter Creek can convince enough shareholders to support them and pressure the board. At the end of 2012, institutions owned around 76% of the stock, with a dozen holding a million or more shares. Otter Creek was the third largest shareholder. Insiders hold a small stake, leaving perhaps 17% in retail hands.

        The only way a near term deal happens is if enough big shareholders believe the best way to make a return on their investment is to sell the firm. Each side will put their best case forward, so even if nothing happens, this contest could at least be interesting to watch. And you never know, the debate may drive the stock up enough for us small shareholders get a decent exit price.

4.040.00(0.00%)Jan 27 4:00 PMEST

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