I don't get it. I thought the FSYS Board of Directors had a fiduciary obligation to reveal competing bids. The third party bid is so buried in the regulatory filing, that you need the FBI to dig it out. Why not be more transparent. It seems like somebody is purposely trying to hide something, but WHY? A $4.50 cash bid is clearly better than the WPRT proposition. it is a no brainer, to take the money and run.
On January 27, 2016, the Fuel Systems board of directors received, with a copy to a Fuel Systems director, a written proposal from a third party (the “Third Party Proposal”) expressing interest in acquiring all of the outstanding shares of Fuel Systems common stock for a purchase price of $4.50 per share in cash, financed through a combination of Fuel Systems current cash on hand and cash of the third party.
If you look at this filing by Westport, page 91 reveals there is a third party bidder involved. management and the Boards of both companies want to prevent this bidder from prevailing.
they disclosed they had a third party bidding? Can you provide a link? I didn't see this in the voting materials
the Gordons have not lost-they make a nice salary, however, They do have a "paper loss" on their share investment, but don't actually lose until they sell the shares.
"Seems to me that we FSYS shareholders would get more if the company just shut down, sold off its assets and distributed everything. The deal makes no sense to me. Fortunately I sold most of what I had when it was around $10. Can't decide what to do with the small amount of shares I have left - hardly seems to matter at this price".
CEO Andy Gordon is interviewed by the Wall Street Transcript. It is available in Seeking Alpha, under the title "Coffee Holdings Co Inc.-Ready to go Vertical" linked in the comment section
both the NFLX and TSLA CEO's said their stock was overvalued
they are in a blackout period until after their first quarter results are released
"we initiated our $3 million share buyback because we believe our stock is grossly undervalued, and we will continue to take advantage of the market's undervaluation of our share price and the misperception of our companies overall value".
During an extensive interview with the Wall Street Transcript, JVA's CEO spells out his company's strategy and operational prowess, with surprising clarity and transparency.
don't count on it. The CEO has too many of his own shares and too many friendly shares in his back pocket to allow anyone to challenge him. He effectively controls over 50% of the shares. That's why the stock is performing so badly. Folks realize that no activist has the power to enact change. The CEO can do what ever he damn well pleases, even if it hurts outside shareholders. The BOD works at the pleasure of the CEO, not the other way around ( the way it should be). The bottom line..the status quo/establishment will remain in power for decades to come. Being a shareholder in this company equates to nothing less than pain, torture, suffering as the loss of investment, accelerates.
please vote no on this horrible deal. The materials have been sent to WPRT shareholders and the same ones will also be used by FSYS shareholders. Anybody that votes yes on this deal, needs to have their head examined.
The folks at Dimensional Fund Advisors revealed a 8.18% stake yesterday, when they filed a 13d form with the SEC. I wonder what they see in Luby's?
the Board of Directors must really like the job he is doing. Why else would they extend his (CEO Chris Pappas) employment contract an additional year, as well as bestow a $225,000 cash bonus on him?
apparently, the little coffee company that advertised during the super bowl ( it won the right from entering in a intuit contest), buys its beans form JVA..I am sure the ad will provide them a surge of new orders.
the ceo can't turn an offer down. it is up to the board of directors to decide