It appears to be Mario Cibelli (et al) keeping this over the offering price. According to Barrons, Marathon's position is now 9.5% after "buying 82,199 from Dec. 10th to Dec. 20th at $7.02-$7.29." He has also filed a lawsuit seeking an injunction of the shareholder vote until Hoover's discloses "all material information to shareholders." Is this why proxies have not been sent?!?
Go get'em Mario!!!!! However, a shame because IMHO a little more (i.e. higher price) would/might have done the trick. BTW also read in the WSJ today that D&B also owned Moody's before they spun that business off......HHHhhmmmm. Sounds like they might do the same with Hoovers (after getting it IMO) dirt cheap.....Good luck to all.....
D&B owned Moodys for years. They don't buy & spin. They bought iMarket a couple years ago, and successfully integrated it into their core business, which is what I think they will do with Hoovers. They don't play the market, buying & selling companies to make money. They are extremely focused on their core business & getting better at it. They must think Hoovers will add value to their core business, or they wouldn't have spent it. The new Chairman has dollars to invest, but is very frugal with them. D&B expense control is fanatical these days. They don't squander dollars.
read the same article, i think that mario is doing the right thing. Why fight for HOOV if he is even or up a bit on it? my guess is that with this economy looking like it may get a bit better rather than worse why sell now? I got screwed like this once before with PRodigy communications, when the were bought by SBC, their buisness was turning around for the better and before they started to move higher they were bought. Same thing happening here hope we can fight this, i rather see HOOV at $5 for another year with B/S management then give it up now for $7
If the date of record for voting is Dec 19(?), 2002, that means anyone who sells now retains their voting rights. So if they sell and do not vote, that's a no vote. Can it be assumed that these people who are selling will most likely not vote?