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Hutchinson Technology Inc. Message Board

tgagrippa 48 posts  |  Last Activity: Jul 11, 2016 10:38 AM Member since: Aug 1, 2008
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  • Reply to

    It would appear that the

    by uptabdowntab Jul 8, 2016 2:31 PM
    tgagrippa tgagrippa Jul 11, 2016 10:38 AM Flag

    @uptab: Your "wait mode" notion seems likely to be true and I would add that it is possible there were possible buyers from institutions or funds whose hands were tied by the sub $1 share price who are now able to jump in. Possibly your comment included that thought as well.

  • tgagrippa tgagrippa Jul 8, 2016 10:14 AM Flag

    @Flatt: The $310 million kill fee is a fact, according to what I read in the SEC documents. But just to be clear, that fee would be inherited, and therefore paid, by the acquiring company. So it is simply a question of whether another suitor wants to tack the $310 million kill fee onto whatever additional money it is willing to pay over the $56.25 share price. I am not saying or predicting that will happen but I am not as confident as others that another company won't make a play here. The jury is out on that possibility and there is no reason I am aware of why it has to come this week. Or next week, for that matter.

  • Reply to

    Will anyone top the Danone bid of $ 56.25.

    by bostonfundave Jul 7, 2016 4:53 AM
    tgagrippa tgagrippa Jul 7, 2016 7:38 AM Flag

    @boston: Who knows, but someone(s) evidently thinks so because it has traded premarket as high as $56.80 according to the NASDAQ website.

    Sentiment: Hold

  • tgagrippa tgagrippa Jul 1, 2016 6:32 AM Flag

    Thanks.

  • tgagrippa tgagrippa Jun 29, 2016 2:40 PM Flag

    @newsad: A couple questions, if you don't mind. I don't own MNI but do own GCI and TGNA so I have an interest. 1. How much is the MNI pension underfunded and 2. Do you see any implications for LEE in the GCI purchase of Reach Local?

  • Reply to

    Losing confidence

    by whothehecknos Jun 29, 2016 10:20 AM
    tgagrippa tgagrippa Jun 29, 2016 11:27 AM Flag

    Well, looking (real hard) for the bright side, for every share being dumped at the moment there is someone else who is buying in the belief the deal will happen. Differences of opinion make a market.

    Sentiment: Hold

  • Reply to

    Hurry up and wait some more. 8k today

    by smaycs4 Jun 28, 2016 4:12 PM
    tgagrippa tgagrippa Jun 28, 2016 8:33 PM Flag

    Well, I'm pretty sure I'm on firm ground when I say that the Obama administration has a track record of tougher and lengthier review of deals than preceding administrations. I'm not trying to make a political statement, just saying what I think is true. You can get some verification, if you wish, from an April 28 article at TheStreet dot com that carries this headline and subhead:

    "Obama Administration Most Aggressive Ever in Regulating Mergers and Acquisitions"

    "Every administration since Reagan has gotten tougher on mergers. Obama tops them all. Using data from the FTC, TheStreet has discovered how big government is flexing its antitrust muscles."

    Sentiment: Hold

  • Reply to

    Hurry up and wait some more. 8k today

    by smaycs4 Jun 28, 2016 4:12 PM
    tgagrippa tgagrippa Jun 28, 2016 4:51 PM Flag

    Yeah. The good news, if we were to look for it, is that there is no real bad news in the document. Essentially, this is the company just telling shareholders, "Hey, you know how we've been saying the deal would close in the second calendar quarter? Well, that quarter ends Thursday and it looks like it ain't happening in the next 48 hours, so we're acknowledging via official channels the expectation we created won't be fulfilled. So sorry, but we didn't expect the FTC to make quantum mechanics out of it." Or so it seems to me.

    Sentiment: Hold

  • Reply to

    Wanna be a corporate landlord? Great deal!

    by michaelpsychorawks Jun 19, 2016 12:30 PM
    tgagrippa tgagrippa Jun 20, 2016 1:19 PM Flag

    Yikes. The asking price for all three properties: $150,220,000. The intraday market cap of MNI on 20 June: $116,580,000. Of course, then there's the debt... But the value of this real estate exceeds the nominal market cap of the whole shootin' match by 29 percent. Of course, there's asking price and then there's selling price ... Still, just sayin' ...

  • tgagrippa tgagrippa Jun 20, 2016 1:10 PM Flag

    @dred: Yours is a smart post.

  • tgagrippa tgagrippa Jun 15, 2016 9:00 AM Flag

    @carp: HTCH is the poster child for frustrating stocks. I have no idea what happened Friday but the volume was 4.2 times the average. I don't think retail investors like us cause that in a stock like HTCH, which is moving very little these days because of the pending TDK deal. I am regularly checking EDGAR, the company website and the usual news outlets for some kind of information and have seen nothing. Could some institution or other investor with deep pockets have simply rolled the dice on $4 per share? Maybe but I doubt it. I think it is more likely that somebody knew something. The conversation between @smacys and @mariya below is informative. If correct, and there is truly some movement in the deal, then I suppose we ought to see a filing in EDGAR today or tomorrow.

    Sentiment: Hold

  • tgagrippa tgagrippa Jun 13, 2016 9:28 AM Flag

    Minutes away from the open and I still haven't seen any news. I expected to see something come out over the weekend or Monday before the market open but nope. Except for a strange little blurb from Zacks whose author seems not to be aware of the TDK buyout. Of course, the "author" was undoubtedly a computer algorithm so, you know....

    Sentiment: Hold

  • Reply to

    What's up?

    by whothehecknos Jun 10, 2016 3:00 PM
    tgagrippa tgagrippa Jun 10, 2016 4:29 PM Flag

    @carp: Stop wasting time thinking about it and go truck shopping!

  • Reply to

    What's up?

    by whothehecknos Jun 10, 2016 3:00 PM
    tgagrippa tgagrippa Jun 10, 2016 3:06 PM Flag

    .HTCH selling for $3.83? Be still my heart. One thing is for sure, we know it cannot possibly be that info about FTC approval has leaked. Because that would mean folks are trading, you know, on material nonpublic information and, gosh, that would be illegal so that never happens.

    Sentiment: Hold

  • tgagrippa tgagrippa Jun 10, 2016 10:38 AM Flag

    Agreed as regards future of the company but what makes a short position risky here is the possibility of a buyout that could require you to cover at a far higher price. The newspaper biz must and will consolidate (and already is, actually.) And if the GCI buyout of TPUB fails, as seems likely at this point, then GCI may turn its checkbook in the direction of MNI. Just my 2 cents. You didn't ask for advice and free is worth what you pay for it, as they say.

  • Reply to

    question for the American CLGRF shareholders

    by ema8k Jun 8, 2016 5:35 PM
    tgagrippa tgagrippa Jun 8, 2016 7:31 PM Flag

    @ema: My short answer: I don't know. My broker is Scottrade. I held my CLGRF within a Roth IRA (yay!) and, thus, will pay no taxes on my gain. But I just checked and my CLGRF shares are, indeed, showing as a long-term gain in Scottrade's "Gain/Loss & Tax Center" in my account history. If I'm doing the arithmetic correctly in my head, my new SSRI position is showing with a cost basis that is based on what SSRI opened at today. It is possible that the very small financial compensation included with the deal (I think it was something like .001 CDN per share) is complicating things.

    Sentiment: Hold

  • Reply to

    TPUB blood has attracted other sharks?

    by boulmichone Jun 6, 2016 1:05 PM
    tgagrippa tgagrippa Jun 6, 2016 2:45 PM Flag

    I suspect boul might have been referring to New Media (NEWM).

  • Reply to

    Shareholder vote

    by jrad52 Jun 6, 2016 7:40 AM
    tgagrippa tgagrippa Jun 6, 2016 7:51 AM Flag

    Yup. If Mr. Ferro truly has the courage of his convictions he should buy the whole company for something north of the $15 per share Gannett has offered. Then he can do what he likes with it. Otherwise, he and the Board of Directors have a fiduciary responsibility to shareholders, the owners of the company. They have not done their duty. Carl Icahn is right -- the management of public companies is all too often a bad joke, with ego-driven executives and too-compliant boards doing what they want instead of what they ought. I guess this is what happens when folks bond over 18-year old scotch and $75 steaks. Guard your wallets and invest accordingly.

  • tgagrippa by tgagrippa Jun 2, 2016 5:13 PM Flag

    Looks like TPUB shareholders just got "Tronced." That's a high-tech version of a much older and more prosaic event that begins with the letter F.

  • Reply to

    Any theories on the delay?

    by carpinus1 Jun 1, 2016 3:15 PM
    tgagrippa tgagrippa Jun 1, 2016 9:29 PM Flag

    Yeah. Feelings we all share, I think. If I'm not mistaken, the deal was announced Nov. 2, which means tomorrow (June 2) is our seven-month anniversary. Happy anniversary fellow HTCH longs. I'm no expert in M&A, but that just strikes me as too long for a deal this small. So it is difficult to escape the conclusion that something is "wrong" -- even if what is wrong is only repeated requests for information by the feds. Maybe our anniversary present will be a favorable announcement on June 2. Or not. I tend to believe the companies have been asked to make adjustments, as you suggest and as Uptab suggested a few weeks back, and the gears are turning on that.

    Sentiment: Hold

HTCH
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