Quite the Volume yesterday, (Monday, Sept 21st) ,over 300,000 shares on up 6% day.. Much less today on terrible day, only down a penny. Would be nice to know who were the buyers.
Sentiment: Strong Buy
Technology is what the Chinese Government wants to acquire, so it is unlikely IMHO that the Chinese won't approve the deal.
This take over has nothing to do with the Shanghai market, unless the buyers were leveraging bullish positions with their funds and lost their Mao shirts. Ballots already sent out for meeting, would be highly unlikely for deal to be overturned by the stockholders without an additional bid on the table.
Sorry but I can't agree with your assessment. When the buyers buy the company for cash, they get that $600 million in cash, too. So they value the REST of the company at $16. They appear to have had revenue of $1.4 billion, which is nearly $25./share, so the price being offered is around 16% higher than 1 years revenues. That makes the offering price inexepensive.They have new products announced, The chart is NOT flat, if you go back a few years, looks like overhead above $30. Why would someone file a class action suit because the price is too high? They would only do that if the price was too low, and they want more to be offered. Why would someone think the take over wont happen if the BOD accepted the offer ? The way i read the announcement, it appears to be a done deal, but people seem confused about it, which is the opportunity here. ( I am long at $17. ).
pyrotech, why do you believe the deal is not going to happen as it was reported that the company agreed to the sale? Can't be the law suits,since that is a whole new lawyer industry, of class action lawsuits every time there is a take over, to get the settlement and bill for ridiculous amounts of "hourly professional fees." What a waste of money and time, there oughta be a law against paying attorneys fees if there is a settlement and no one is found guilty.
I'm a doctor; work in HAZMAT field. Can't say enough positive about the hand held detector. Your management plan is defective. Hospice not the appropriate place for this company, but psych ward may be a good place for you, ninja69turdle, as you probably bought your whole position higher and so you are freaking out because you don't have enough money to back your truck up, average down, and fill it up with these shares which are on sale in the discount rack here... Stocks like this don't move until they show earnings for 1 or 2 quarters, so plan your next 6 months carefully, Gonna really be easy to double from the current prices, with all the sales being reported.
Sentiment: Strong Buy
ANyone know if the bidders for this company are prohibited from purchasing more on the open market while their offer stands? (So many rules and regs by FINRA, SEC, and USPL, hard to know all the rules) I would think they are watching this price dwindle, due to impatient short term traders, and when volume starts to dry up a little, swoop in and buy cheaply, can save over 10% on their offering price. If another buyer emerges, which is possible the longer they take to close this deal, they would still make money.