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Trans World Entertainment Corporation Message Board

  • smaycs4 smaycs4 Jun 27, 2013 4:30 PM Flag

    $25 million dutch tender offer @ $4.50-5.10

    Im a bit disappointed. Too small and no/not much premium.

    Im inclined to hold.

    But, this is an opportunistic offer in that it gives large holders a way out without killing the share price but leaves the majority of the cash with the company which could benefit us in the long term.

    I was expecting more. A larger offering at a higher price or a large dividend.

    This leaves the company with far too much cash and may put a lid on near term price increases.

    Im reminded years ago of an attempted tender offer by BAMM. The price was too low and nobody tendered. The stock went up a good bit even though they never bought back a share. And later the stock & the company #$%$ out.

 
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