Good God I hope there will be a bidding war ... but I doubt it. I just hope the price will be in the 40's .... I really hope for high 40's but I doubt it.
4.21m shares short are weighing down this boat.
Much of yesterday's before noon volume looked like more shorts boarding.
I hope this isn't going to be like that 1st YHOO "buyout" deal, when they were at $33, before they worked over Yang.
Soros has only 36,000 shares, the remaining 3,435,885 shares are issuable upon conversion of his 2.25% convertible bonds due March 31, 2016 and the 2.50% convertible bonds due January 31, 2018 respectively.
The convertible bonds have no influence whatsoever on the stock price.
Icahn has 5,692,274 shares that can easily be sold back to the company. The original buying by Icahn did not influence the stock price as the vast majority of the shares results from the executions of options that were purchased outside the U.S.
The stock price started to move when the involvement of Soros and Icahn was made public. I think those two being in the company has much more importance than any little rumour the New York Post could start.
First i agree with you that this mkt is unikely going to do much,as for marty knuckling under,what makes this different is that really big sharks are involved,yet i still have doubts on the sale of this co,Im not sure what i want,if my assuptions on what this co sells for something under 45,it would be a letdown considering in early may we were at 60,but reality is the next year or so is murkey so who knows what happens to the stock price.If i was sure about what the cos game plan i that would give me another opinion.
I have to admit it`s not Wygod-like to sell his company at this stage when his company has fallen on hard times. In the past he sells when his company is excelling and gets the best price for it and usually it happens quickly. Something sounds fishing with this "sale" and why just the NY post? What`s with this "refuse to open the books"? He's not one to bail out of anything and run due to outside pressures (ex: shareholder lawsuits: Icahn/soros). The only thing I can think of is maybe he may be just tired of it all and possible health reasons? I personally hope the company sells so I can move on. The reason why is that even though I still believe this company still has great future potential - I am losing faithe in the stock market in general for the future. So even if the company does well much later the stock price may not reflect it due to market conditions. Maybe if the company sells you may be able to pick the company up at a much lower price in the future. I am just very concerned with this stock market and want whatever pop I can get in this stock and get out.
i agree with your conclusion,lets explore this for the moment,the co is not for sale,it would be fair to assume that the stock retreats back to the low 30s,which is where it was when the buyout issue started.the co has advised everyone that earnings will be eh for at least the next 3 qtrs looking for improvement in the 4th of 2012.my opinion is that any good earnings for at least 2 qtrs will be met with sketisism from the street and rightfully s,so one of 2 things happen ichan and soros make their move for the co to do something for shareholders,if it happens shares climb,if not they sell their positions or parts and we head a little lower.now the stock is playing earnings to earnings like many stocks do,under that i just dont see 60 in anytime soon.4 years would be very aggressive all things considered considering that a year looks to be lost.
Martin J. Wygod:
"There’s a lot of key hires we intend to make and new programs that we’re going to be entering into in the immediate future…
…we have not really been as effective as we should be but we will be in the future in making sure that our customer base out there understands the value we bring to the table, the analytics behind the services we’re providing for them, as well as the ability that we have to get them the desired results at substantially lower cost.
I think if you want to pinpoint one thing, it’s been our lack of ability to really put out the appropriate analytics and get it in front of our customer base in such a way so they could fully appreciate the value add that we were bringing to the table."
This doesn't sound like somebody who is going to sell his company!
You are all assuming that the owners (including SOROS) of the $800 Million convertibles will agree to an acquisition. If not someone will have to buy them out. Look at the conversion price - +$60 in 2016.