Agreed, I thought they should have sold for more. They sold for (enterprise value/revenue) of about 1X. The buyer, Sonus sells for about 2X. A good transaction would have been at $5 to $7/share - if they were able to show any sales momentum, even higher.
It depends. Do you have a gain or a loss? Do you want to realize (for tax purposes) that gain or loss in 2013 or 2014. Will waiting till Jan or Feb 2014 convert a short-term gain to a long-term gain? The next issue is the price - you can sell now and get 3.70 or so - if you wait a month or two you'll get $3.75. Risk - there's a slight probability the deal will fall apart and the price will drop back to around $3.00 (or maybe even lower). There's also a slight chance that another buyer will come along and offer more than $3.75. Unless there are tax reasons, I think that most shareholders will sell their shares now rather than wait.
I agree that they would benefit from a good operator running things. Who might buy PBY? It seems that Sears might spin off their auto centers - potential buyer?
If your shares are with your broker then they will automatically get converted to cash after the deal closes and the cash will end up in your account. If you hold stock certificates, you can deposit them at your broker now and let them take care of it - or after the deal closes send the certificates to the transfer agent with some paperwork and they'll send you the cash.
Well, it didn't close before the annual shareholder's meeting (I state the obvious). All the regulatory approvals have been received. That leaves the financing - any updates on this? Of course they may be ready to go, and are just waiting since MD is saving about $1 million in interest expense for every day the closing is delayed.
Dell has stated they anticipate the deal closing in October. Can it close prior to the shareholder's meeting on October 17? Or is there some reason they have to wait till after that meeting? Do they have all their financing lined up?