Acco has finally admitted that sales are declining. They are lying about why and to the extent that sales will be down but this is the first indication of where they are going as a company. ABD has lost big chunks of business with the mega players and that will start to make a major impact late this year into early and all of next year. As I have been saying for a long time get out while you can. I am certain that there will be a management shake-up. Watch for changes!!
The facts are the facts this is a $13 stock. That was the value of GBC and ACCO. The management is trying but the industry has changed dramatically and they are behind the curve. I understand they are now dusting-off old GBC startegies from 2002 to try and save the business. The managers and owners are sellers and the board is ineffective. The is a slow spiral to the bottom. See you at $13 a share.
Keep in mind that Breeden had purchased a 9.7% stake in ABD. I am certain that they do not plan to just stay the course and hope for the best with the current ABD managment group. I see winds of change coming and soon.