Look at the letter sent to DATE by Heng Ren. Use google to get to their website as the yahoos at yahoo delete every post I make on H.R. The story by StreetIns*eye*der on H.R. is displayed in News Headlines on my Schwab account.
A similar thing is happening with a US company called BAMM. It's attempting to go private at an amazingly low $2.75. Books-A-Million (NASDAQ: BAMM) reported Q4 EPS of $1.28, versus $0.80 reported last year. Revenue for the quarter came in at $160.8 million, versus $158 million reported last year. Comparable store sales for the fourth quarter increased 1.7%, compared with the year-earlier period.
Vast Profit Holdings (love that name) is the usual Chinese management scam, trying to steal the company at half its rightful price from the shareholders. See my next post on Heng Ren. I and a lot of indignant US ADR holders went through the same type of scam with a company called YONG. The shareholders voted down the proposal. The stock dived. Eventually, after many shenanigans, the management of YONG upped their initial offer by something like a piddling 15 cents.
If we're lucky and big hedge funds take positions, something like that may happen here. I admit to only buying shares after the offer was announced and have a cost basis of $5.07.
Interesting! Thanks for posting. Stock price seems to be firming up too.
Could be related to this story:
Stryker CEO says he remains focused on acquisitions
7:24 PM ET, 01/27/2015 - Reuters
By Susan Kelly
Jan 27 (Reuters) - The chief executive officer of U.S. medical device maker Stryker Corp, recently rumored to have been preparing a bid for British rival Smith & Nephew Plc , said on Tuesday that acquisitions are his top priority for spending cash, but he gave no hint that any sort of deal was imminent.
The timing of acquisitions is unpredictable, Stryker Chief Executive Officer Kevin Lobo said on the company's fourth-quarter earnings conference call.
"Right now we are pursuing the acquisition deal flow, and we'll see what happens," Lobo said. "We do plan to put our money to work."
Rumors that Stryker could bid soon for fellow orthopedic implant maker Smith & Nephew, frequently named as a possible takeover candidate, surfaced late last month.
Smith & Nephew CEO Olivier Bohuon, speaking earlier this month at an investor conference, said the company had not decided to follow other medical device makers that are bulking up through mergers.
Years of slow growth and persistent price erosion have prompted some large mergers in the orthopedic implant sector, with Johnson & Johnson buying Swiss device maker Synthes for about $21 billion in 2012, and Zimmer Holdings Inc in the process of acquiring privately held Biomet for $13.4 billion.
Stryker itself has been active in acquiring smaller companies, including its $1.65 billion deal for Mako Surgical Corp in 2013.
The Kalamazoo, Michigan-based maker of artificial hips and knees and other hospital supplies said on Tuesday its fourth-quarter net earnings fell 33 percent to $260 million, or 67 cents a share, hurt by charges for product recalls and costs related to opening a regional headquarters in Europe.
The company earned $386 million, or $1.01 a share, a year ago. Sales rose 6.1 percent to $2.62 billion in the lat