And your share price will fall to $9.00 as a result of it. Be smart, there is no White Knight out there, if there was, where were they up-until-now?
This is an unusual situation where it is to Management's interest for them to show poor earnings in order to justify a lower buyout price. How are we going to know whether this is an accurate representation of the real earnings? There are so many variations in accounting practices which will affect the final earnings number.
Here is some feedback direct from IR regarding which party is responsible and for what amount should the $13.65 offer stand and then get rejected via Proxy Vote.
"... the Company shall promptly, but in no event later than three (3) Business Days after such termination, pay Parent (or one or more of its designees) the documented out-of-pocket expenses incurred by the Parent Parties and their respective Affiliates in connection with this Agreement and the Finances and the transactions contemplated hereby and thereby up to a maximum amount of $15,000,000..."
I'm alarmed by this requirement. The offer comes "unsolicited" and then it's approved (Unanimously--Special Committee & full BOD) by the board, and upon rejection by the un-affiliated shareholders those same shareholders end up paying for the cost of the failed offer...What the heck??? Everything is negotiable in a contract, this exhibits another failure on the part of the BOD to perform their fiduciary responsibility...the contract should have explicitly stated that the "Parent" is responsible for cost of failed vote...not the company. Shows who the BOD work for doesn't it?
A rejection of the price does not cost the company on half a billion dollars. No matter what it sells for, it costs the company nothing. The company is the same no matter what the stock is trading for.
Doesn't matter. Greedy amateur fools here think because they saw a news report that Mike Dell was taking Dell private, and bought in after the shares ran up 25%, that now somehow they are owed a profitable trade.