This merger may be put on hold. Plenty of shenanigan undertones
So there's a group associated with TQNT that sad because they didn't get an (on average) 51% pop of a premium. They're putting up quite a fuss about the meager 5.xx% that they'll get which translates to 9.7Xish (DESPITE the fact that it closed MUCH higher than the 1.6X premium today!!!!!)
Here's the players;
Vangard. Who had the intuition to double down on RFMD with their latest 13g/a filing. This double down was on a company whose stock couldn't get out of it's own way over 6 YEARS!!!!!
Blackrock. See Vangard above. But double down EVEN MORE on a channeling stock which usually resides below $5.00. How did they know to "all-in". WHEN did they know to all-in? The merger talks didn't happen in a vacuum and they didn't start on 2-24-14. Hmmmmmmmmmm. Insider leaks BIG TIME!!!
Enter the disgruntled mix at TQNT. They're starting a class action ASAP and are petitioning for support to take the merger conditions back to the table.
Now the BIG ONE. (and this didn't hit me until I read the latest news release tonight. For some reason DA Davidson & Company came out with a downgrade of RFMD and TQNT. This curve ball on the day of the news release. This DOESN'T happen!!!!!!!!! Unless, you're in bed with the opposition who needs to support their decision for a "lower" merger price. The TQNT activists that want to renegotiate the merger conditions now have to deal with a large anal firm that says the companies aren't worth that much. Hmmmmmm. How much did DA Davidson & Company get for muddying the water? NO ONE renders a DOWNGRADE on the day of the merger without having an underlying reason. (The operative word here is lying!!!)
they are wrong!! they got a much higher premium of what they declared. Look at the stock price one year ago. The deal has been going on since that time and the price has been driven up to arrive to this point. The TQNT shareholders should just be happy. No eps so what makes the company worth 11 bucks?
if the deals doesn't go through it would go back to 5 in 2 days. BET?
Too bad for those "sad" TQNT investors - they can cry and sue all they want, won't accomplish a darn thing. Same thing happened to MIPS last year, a shady deal that robbed shareholders bigtime, lawsuites galore, buyout went through anyway. Your conspiracy theories don't hold water either - more likely the bigger tutes pushed RFMD to merge with someone, not that they got wind of an ongoing deal negotiation in advance.
Please keep spewing your BS, it keeps us laughing!!!!!!!!! With you it's always the same conspiracy #$%$ about some under the table plan to screw the little guy. You love to use terms like "This DOESN"T happen and NO ONE does this or that" as if somehow you're the one that knows what's done. It's already been shown on this board many times that you don't have a freaking clue! Do we really need to recap you're whole BR rant?
First of all, Davidson is small time company out of Montana, not exactly a hot bed of Wall Street activity. They and Canaccord have flip flop on their position on Rfmd many times. Secondly, Sterns raised their target price on Rfmd to 8 and Brean Capital (hard to believe) raised their target on Tqnt all the way to 16. How many law suit do you think there will be if Tqnt even get close to that target????????
At last count there are at least four ambulance chasing law firms that are trying to drum up some business with class action suits. In my not so humble opinion, just like the FB story, this all falls by the wayside with a rising share price and it takes months for civil suits to proceed let alone class action suits. So give it a rest.
Big changes, eh?
Lots of disgruntlement for sure, but Tqnt had their back to the wall and that will be their rationale for merging.
The way forward was not clear. Even their own new big 10% holder wanted them out of the PA business. Companies like to keep doing what they do, and this allows Tqnt to stay in the game. Mergers basically s*ck for quite a while. Tqnt got out of a problematic situation. Rfmd got filters and a much stronger MPG group. Swish it around, and the merger makes sense. Some say Rfmd got Tqnt cheap. Time will tell whether those big outlays RQ made for fabs will even half pay for themselves. A year or so back, Tqnt had a boatload of cash on hand. Not today, and Tqnt chose to stay in the game rather than submit to the predators. After the nice run Tqnt has had from $4 the last year or so, honestly I don't know why their investors are bi*ching. They could have sold yesterday for $11.50 and almost tripled their money. Tqnt needed to do something to ensure survivability and a return on capital, and Rfmd needed to do something to their lackluster MPG group, and filters is a major addition to the portfolio and one hell*va growth driver. JMO.