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Nathan's Famous Inc. Message Board

  • jpalczyn jpalczyn Nov 27, 2010 11:38 AM Flag

    Barron's Page 39 Column 4 top

    Barron's Write Up-Page 39 Column 4
    By Mr.Bruce Geller.
    Mr.Geller thinks it would be an attractive target for a large food company and he believes the stock is worth$22 to $24.
    All comments welcome?????????????
    Yes I'm in long term.
    Dr.John.
    Yes Strong BUY.

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    • Did any of you read the Barrons write up on NATH.In Nov.
      Barron's Write Up-Page 39 Column 4
      By Mr.Bruce Geller.
      Mr.Geller thinks it would be an attractive target for a large food company and he believes the stock is worth$22 to $24.
      All comments welcome?????????????
      Yes I'm in long term.
      Dr.John.
      Yes Strong BUY.

    • from the 10K
      Common Stock Purchase Rights



      On June 4, 2008, Nathan’s approved an amendment of its then-existing shareholder rights plan (“Former Rights Plan”) to accelerate the final expiration date of the then-outstanding common stock purchase rights to June 4, 2008, thereby terminating the then-existing rights, as well as the adoption of a new stockholder rights plan (the “New Rights Plan”) under which all stockholders of record as of June 5, 2008 received rights to purchase shares of common stock (the “New Rights”). The New Rights Plan replaced and updated its Former Rights Plan. The Company had reserved 9,501,491 shares of common stock for issuance upon exercise of the Rights under its Former Rights Plan.


      The New Rights were distributed as a dividend. Initially, the New Rights will attach to, and trade with, the Company’s common stock. Subject to the terms, conditions and limitations of the New Rights Plan, the New Rights will become exercisable if (among other things) a person or group acquires 15% or more of the Company’s common stock. Upon such an event and payment of the purchase price of $30 (the “New Right Purchase Price”), each New Right (except those held by the acquiring person or group) will entitle the holder to acquire one share of the Company’s common stock (or the economic equivalent thereof) or, if the then-current market price is less than the New Right Purchase Price, a number of shares of the Company’s common stock which at the time of the transaction has a market value equal to the New Right Purchase Price. Based on the market price of the Company’s common stock on June 4, 2008, the date the New Rights Plan was adopted, of $13.41 per share, and due to the fact that the Company is not required to issue fractional shares, the current exchange ratio is two shares of common stock per New Right. The Company’s Board of Directors may redeem the New Rights prior to the time they are triggered. Upon adoption of the New Rights Plan, the Company reserved 16,589,516 shares of common stock for issuance upon exercise of the New Rights. At March 28, 2010, the Company reserved 12,485,250 shares of common stock, based upon the closing market price per share on Friday, March 26, 2010 of $15.25. The New Rights will expire on June 5, 2013 unless earlier redeemed or exchanged by the Company.

 
NATH
50.48-0.46(-0.90%)Jul 24 4:00 PMEDT

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