Tender offer needs to be a game changer, not a nickel dime handout: Shoulda started at $12.50
Now they are just going to chase the shares and fitfully badly at that.
The shares are worth about $14 conservatively. Next quarters profits, they can return the 25M they borrowed and substitute cash flow. One quarter. America remains 22% unemployed and underemployed, Bernookie is pulling the rug out from under the real estate reflation, it is just getting worse---at best a stalemate for the economy as a whole.
Why do they care? Why should they care? At 11, it is a 8 PE. SWHC wasn't the cause of the price to be at 6 PE. At 6 PE they could have bought the company in a year and a half free and clear. Probably less with the profits that are being made. They are just waking up those who have been profiting and keeping this down.
I wish for the day, just like the old days, when it is announced that trading is halted. The announcement states that trading resumes at 18. They are sold. KMA when that happens.
I think they are in the process of setting the selling price as we speak. At whatever price they can buy 5,000,000 shares, there will be a 30% premium. So $15 * 1.3 = $19.50; or $14 * 1.3 = $18.20. Effectively an auction. I think Golden, with like 350,000 options expiring next year is not going to want to roll the dice to see what happens in 15 months to the PPS, he will just sell, and when he sellls, ALL MANAGEMENT OPTIONS WILL VEST, so they are in it for a payday as well. HOOHAA