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After commercial businesses execute a contract,
it then becomes to late to decide it is a bad deal.
One has to suck it up and close on the deal. That is
the purpose of the contract. Even if the company sold
this division for ten million to another, it would
work. Use the money to take care of debt, then sue
Ametek for the difference for breaching the contract.
Unfortunately the stock price is going to continue to go down
until this is taken care of, and it is going to take
some time. Good Luck!
it would seem that that perhaps someone at
ametak, maybe their newly appointed ceo, was a little
sharper than anyone had hoped.or maybe someone realized
that the recently replaced ceo was about to make a big
mistake, and that potential mistake hastened his
departure.hard to believe that the timing was just a
Yourself better read it carefully, Buddy. The
fact is that "Ametek disagree the value of that
property and business". I really hope BOOM can find
another buyer willing to pay for 17 million before
Dec.30. But, it is not as easy as you "hope" at this
juncture. How much can they get right now? I do not "feel"
it was just the difference of a few million dollars,
otherwise Ametek won't take the risk by walking away from
this deal. Good luck.
The press release should more accurately read,
Ametek breaches contract. I hope the company sells this
division to another and sues Ametek for the difference.
Then pursuant to the contract it can also recover its
attorney fees and costs. It all takes time unfortunately.
I was hoping it would be able to cut a deal with
Ametek so it could go ahead and get on with business.
My concern is if they still have money to pay for
the new plant and pay down the debt if they can not
get the full 16 millions. Their original plan was to
use the 17 million to pay down all of the debt so
that the new company will be healty and very
profitable. Now.... where are they heading? Not a good news
to me. Good luck.
I am not Mark. My understanding is that there
will be a press release as soon as the deal is
salvaged or as soon as the deal falls through. For right
now, no news is probably good news. If the deal does
go through and one has bought stock and reduced
their cost basis, there should be a nice pop. If the
deal does not go through, I believe the company will
sale this division to another and sue Ametek for the
difference in purchase price, which would be the most
intelligent way to proceed. Lastly, I think we can expect a
loss until this division is sold or the Asian
economies really improve. Good luck.
There is one person who has the real info. That
is Mark Jarman. He is the IR man for DMC. I know he
reads this board periodically. So Mark, what is the
situation with the sale and the lawsuit. When do expect DMC
to return to profitability. Also what about the new
facility in PA. I had the impression that our new CEO was
more in tune with the Street and yet DMC is lower than
it has been in years. I hope to hear your comments
or any insight you can offer.