This merger probably will go thru. Share holders have no vote. We do not count. The board has voted for it. Last year at this time the stock was at $17. Nice profits if you bought then. The stock went to $60 when it was leaked that mgt. was in talks to sell. My best estimates is that APFC would make about $20 million for fiscal year 2014. That's about $2.50 a share, down from $3.00 for last year. The company calls for $2.00 a share in profits. Put a 20 multiple on the numbers, you get a stock price of $40 to $50 for fiscal 2014. So I am selling. If, by chance to merger does not happen the stock will fall back to pre announcement levels. This would be a great time to buy back in now that APFC is in play.
The tender offer starts 1/24/14. I believe it will be successful. If successful HIG will purchase the remaining stock ASAP, according to the lawyers at $46.50.. Stock holders have no say. If the tender offer is unsuccessful, the the stock will falll back to $38., pre- announcement levels. This would be an oppurtunity to buy in, now that APFC is in play, I sold ($46.36) because I may have an oppurtunity to buy back in . The lawsuits are for the lawyers, not the stockholders. The lawyers get most if not all of the proceeds if any.