Doomsday scenario, like Michael Dell, et al are trying to take Dell private, would be near the stock price rather than the intrinsic value of the company including that oft bashed "good will" which in fact is the bulk of NUAN value going forward. i.e. patents, brand, CLU, NLP data base, etc. These things are proprietary intellectual property but are monetized through use and application. Icahn must be licking his chops to buy this at $25 or less and bust it up for triple that. I also wouldn't be surprised if the early announcement was to clear the decks for an organizational announcement and discussion on the full cc date next week. Obviously I'm guessing along with everyone else here! Icahn, WP, et al taking it private would satisfy the users fine and private equity folks, retail buyers? not so good. After all this is a quasi private company with the top 10 shareholders holding 50%+.
It will be interesting to see if there's another SEC 13G filing after close today saying IC added another 1 or 2%. I assume that any major institutional holders would also have to file if they've added or subtracted to their holdings. If that is so, then no one is selling and all this churn at $19 is day trading? Since 90%+ of stock is held by institutions, then the float is diminishing each day? If IC adds more stock - with yesterdays purchase he now passes TR Price as the second largest holder behind WP's 18% - is there any advantage to surpass WP and get, say 20% of the stock? Does that amount give him veto power and final say on what direction NUAN takes in the future? I don't think there's that much float left, although there's still 25m short. Maybe he has enough now to dictate his agenda?