ovti has out-performed nicely over the past week. significantly it appears. hopefully the chinese now and are buying! although i want 32. but at this point i will take 31 and just move on to the next opportunity.
the company shot their wad at 90 dollars and now doesn't have money to buy. who is the incremental buyer today (other than shorts covering).
it's just not a good business at the end of the day. high margin and lots of competition.
perhaps the buyer feels like there is no other bidder which is probably correct. so why bid higher. but offsetting this is that the company then just doesn't have to sell themselves.
deal reporter is a merger arb newsletter information source. like anything they are hit or miss.
i am surprised at the buyer being a tightwad.
this is dragging on very long. either the buyer isn't serious, the seller doesn't want to sell and a huge bid/ask spread. i suspect it's like 30 bid 35 ask. if it was 30 and 32 they could just meet in the middle and get it done.
when was the last time you saw this big of time lapse on a deal.
Omnivision (OVTI) Bid May Be Raised to $30 - DealReporter
March 26, 2015 9:59 AM EDT
Omnivision Technologies' (NASDAQ: OVTI) bid could get raised to $30, according to DealReporter.(Note: Previously ...
apcranger - i now think i fully understand your issue with regards to Tiawan. However i suspect the buyer also knew this and they probably want over time to move this back to the mainland.
it will be interesting to see what happens here. i have sold my shares but have kept my modest call position.
i think it's safe to assume the probability is that this does not get sold.
you are probably right. there is little incentive for them to sell. be interesting to see how far the stock falls if they announce no sale.
nice call. hope you were able to add some shares cheap.
i have my small option position. i hope they sell but odds are they won't. do you think the company sells itself? and if so at what price?
ha! i own a few hundred call options on OVTI. so, i'll be quite happy if they get a full and fair offer for the company ($32-35) - but i just don't think it's likely. i hope very much to be wrong.
there is what around 1mm shares short of this stock. i suspect a good chunk of it is related to index shorts. there isn't really anyone short this stock in any size, nor should they be. am i wrong about this short comment? the numbers just aren't there.
just because someone disagrees with a long thesis doesn't automatically mean they are short the stock. i was long it for a short period of time till i exited based on my view. i put it into the calls -
but it's not in american hands. that's the rub. you can keep saying it would be worth more in another hands but this will continue to be run for the founder - and he probably doesn't want to sell. frankly i think they should get more than 29. i think 32 is a fair price at a minimum. and needham has a 35 price target and that really should be the price (but it's not going to happen there).
the company didn't buy back at 70 but is now buying back at 90-95. crazy. putting the good short squeeze on though. there isn't really other buyers it appears.
i have been spending more time on this - but the more i realize that insiders control this company. also people leak info - look at the stock reaction the few days prior to the take-over bid. smells dirty. i think that in some other cultures haven't fully embraced the whole "no insider trading" thing.
given management control of this company it seems like people just aren't interested in playing the take-over game here.
fair enough. then vote down the pay packages and try to get other large shareholders to do the same. or find companies that don't have crazy compensation packages.
it's unlikely that the company can buy back all the shares outstanding although they can buy a lot. slowly the price would go up. the shorts would be competing with the company to buy back shares.
The shorts have been in this name for a long time - and a lot of years of hit pieces and such. i doubt it's been fun for any of them.
i did that originally to see if anything new. i see no mention of Tiawan regulators. can you copy the relevant part you see. thanks
yes i read it. and i still didn't see anything like what you are implying. can you please point us in the right direction? thanks
apcranger - what is in the 10q. can you point it out for me. i do not see anything. you have mentioned this twice so please help us out. thanks