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Onvia Inc. Message Board

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  • kg2931 kg2931 Dec 8, 2002 10:34 PM Flag

    Is this legal?

    LMcKenna,

    I may be reading your post wrong but DGR is not a buyer of ONVI, or takeover candidate. DGR is the consultant outfit hired for the next 6 months to help ONVI determine how to get best shareholder value.

    I wouldn't mind a buyout at any price providing I continue to hold my shares or value that I have invested. The private buyout by Balmer & Co would liquidate us all - don't want that.

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    • KG-DGR is indeed the bad guy here. D stands for David, G for Glenn, and R for Rob. Those are three names you should not pick to name your next child.

      The firm Onvia has retained to help them look at their options is Broadview.

      Let me make one thing clear: If the 3 amigo's buy Onvia you will get the sale price. Period. The notion you have of "holding" your shares after a buyout is incorrect. The company would then be privately held and that nice pile of cash would be their's.
      Gee, what do you think they'd do with it?

      • 3 Replies to kentreg
      • "Let me make one thing clear: If the 3 amigo's buy Onvia you will get the sale price. Period. The notion you have of "holding" your shares after a buyout is incorrect. The company would then be privately held and that nice pile of cash would be their's.
        Gee, what do you think they'd do with it?"

        What are you talking about ?

        ONVI at the end of Sept 30th had $42 mil. Their lease obligations beyong 2002 would be $19 mil (this is from last 10K, they may have written down some of it in the later quarters but still not chump change). There are bunch of options below $3 when excercised would put some more dent into that original $42 mil figure. Not to forget the negative cashflow each quarter.

        The price offered was not bad. You will be really lucky to get more than $3.5 for this junk that will never ever make money.

        minimax

      • What is the current group doing with the money?

        If you just single out one group as the bad guys here you are kidding yourself.

      • Thanks for setting me straight on DGR. My attention's been on other crisis the last few weeks and haven't digested what's happening here.

        I know that if Balmer & Co buy out ONVI that it's a private deal and we'll all be liquidated. I don't want that no matter what the share price. I am in favor of whatever leaves existing shareholders as you say as follows:

        "However, I think that if someone does NOT wish to sell, that they should be allowed to get a stake in DGR (equivalent to their current ONVI holdings) if they wish..."

 
ONVI
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