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Cliffs Natural Resources Inc. Message Board

kaychen45 35 posts  |  Last Activity: Jun 30, 2015 2:03 PM Member since: Sep 9, 2009
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  • Now ISSI deal was gone !
    Time to buy GSIT for $250 M.

    Go CY

    Sentiment: Strong Buy

  • kaychen45 kaychen45 Jun 11, 2015 8:38 PM Flag

    In fact, Uphill and Cypress may have taken the bidding war for Integrated Silicon to a whole new level, Shannon said Thursday.

    "It's interesting that they raised 75 cents," he said, referring to Uphill's counteroffer for Cypress' bid of $20.25.

    So far in the bidding war, the two suitors have been sweetening their offers with slight premiums. Cypress launched its spoiler bid of $19.75 per share on May 13. Uphill responded May 29 by raising its offer to $20 per share, to which Cypress responded later that day by increasing its bid to $20.25 per share.

    The higher incremental increase in the price from Uphill may be a signal that the group is willing to go significantly higher to clinch the target, Shannon said, adding that the investors likely have backing from the resources of the Chinese government, and that the leadership at the helm of the world's second-largest economy have declared the semiconductor industry a key area.

    Sentiment: Strong Buy

  • ByJaewon KangFollow | 06/11/15 - 04:18 PM EDT
    Get TheStreet Quant Ratings' exclusive 5-page report for (ISSI) - FREE.
    NEW YORK (The Deal) -- Integrated Silicon Solution (ISSI - Get Report) agreed Thursday to yet another sweetened offer from China's Uphill Investment, leaving observers to wonder whether the bidders are both signaling that they could go even further to acquire the chipmaker in what has already been a heated tug of war.

    Integrated Silicon Solution said Thursday morning that it has agreed to be acquired by Uphill Investment for $21 per share, just a day after the Milpitas, Calif.-based semiconductor company announced that it had reached a deal to be bought by its bigger peer, Cypress Semiconductor (CY - Get Report) , for $20.25 per share.

    Must Read: 10 New Stocks Billionaire David Einhorn Loves

    Based on the 31.76 million outstanding shares of the target, the Chinese consortium's latest offer is valued at about $667 million.

    The semiconductor company said its board continues to recommend ISSI's shareholders to vote for the agreement with Uphill. The target added that it will have a special meeting to consider approval of the Uphill acquisition on June 19.

    Uphill add fuel to a month-long bidding war with its latest offer, which is $1 per share higher than its previous bid of $20 per share. ISSI initially agreed in March to be acquired for $19.25 per share by a consortium of Chinese investors, now called Uphill Investment, in the midst of an activist campaign from Starboard Value. Cypress launched a spoiler bid in mid-May and has been duking it out with Uphill Investment ever since.

    "We've got two macho contenders trying to puff up their chest and get the other one to bow out," said Craig-Hallum Capital Group analyst Richard Shannon on Thursday. He had said in an interview Wednesday that the chances of higher bids coming in were greater than 50%.

    In fact, Uphill and Cypress ma

    Sentiment: Strong Buy

  • ISSI Agrees to Merger Terms with Cypress Semiconductor
    Provides Required Notice to Uphill
    MILPITAS, Calif., June 10, 2015 /PRNewswire/ -- Integrated Silicon Solution, Inc. (Nasdaq: ISSI) today announced that it has finalized a definitive agreement to be acquired by Cypress Semiconductor Corporation (Nasdaq: CY) for $20.25 per share in cash. With respect to the previously announced issue regarding antitrust approvals, Cypress has agreed to use its reasonable best efforts and take all reasonable actions to obtain such approvals, including fully divesting all of ISSI's SRAM business, if required. The definitive terms and conditions of a merger agreement detailing the current Cypress offer have been fully negotiated, and the merger agreement is subject only to execution by the parties.

    As previously announced on May 29, 2015, ISSI entered into an Amendment to the Agreement and Plan of Merger dated as of March 12, 2015 ("Uphill Agreement") with Uphill Investment Co., pursuant to which Uphill agreed to acquire all of the outstanding common stock of ISSI for $20.00 per share in cash.

    The ISSI Board of Directors has determined in good faith (after consultation with its financial advisor and outside legal counsel), taking into account all relevant legal, financial and regulatory aspects of the current Cypress offer and the likelihood of consummation of such transaction, that the current Cypress offer would be more favorable from a financial point of view to the ISSI stockholders than the merger under the Uphill Agreement and that the failure to enter into a definitive agreement with Cypress on the terms in the current Cypress offer would reasonably be expected to be inconsistent with its fiduciary duties under Delaware Law.

    As required by the terms of the Uphill Agreement, ISSI has notified Uphill of the determination by the ISSI Board and provided Uphill with copies of the proposed transaction documents relevant to the current Cypress offer. In this notice, Uphill w

    Sentiment: Strong Buy

  • Reply to

    Why not to buy GSIT too ?

    by kaychen45 May 13, 2015 9:32 PM
    kaychen45 kaychen45 Jun 8, 2015 2:54 PM Flag

    CY should buy GSIT

    Sentiment: Strong Buy

  • June 8 (Reuters) - Cypress Semi raised its offer to buy Integrated Solution for a second time in May to $643 million, trumping bids by a Chinese consortium led by Summitview Capital.

    Integrated Silicon said Cypress Semiconductor was not willing to take "necessary" actions to ensure antitrust clearance in the United States and Germany, countries where both have a significant share of the SRAM memory chip market.

    SRAM (static random access memory) chips are more expensive than DRAM chips, which are mostly used in PCs, but are faster and require lesser power. SRAM chips are used in a variety of industries including automotive electronics, appliances and toys.

    Cypress said the combined entity would have an 80 percent share of the SRAM market in the United States and would be the only supplier of these chips to the automotive industry.

    The combined company would also exceed 70 percent of the total market share in Germany, becoming the sole supplier to German carmakers.

    In the United States, the Federal Trade Commission (FTC) and the Department of Justice (DOJ) have 30 days to review a filing and to issue the a subpoena seeking more information, a process also known as "second request".

    Integrated Silicon said a second request investigation was likely and could cost each company more than $3 million, take up to nine months to complete and result in the divestiture of a portion of their SRAM business.

    The company said Cypress had downplayed antitrust risks saying the SRAM market was moving to embedded from standalone chips and since the companies were not major suppliers of embedded chips, the deal would not present any antitrust risk.

    Integrated Silicon said it asked Cypress to take "all necessary actions" to comply with antitrust rulings, but Cypress only agreed for "all reasonable actions".

    Integrated Silicon sa

    Sentiment: Strong Buy

  • ISSI, Cypress SemiconductoISSI, Cypress Semiconductor fail to reachJune 8 (Reuters) - Chipmakers Integrated Silicon Solution Inc and Cypress Semiconductor Corp failed to reach a merger agreement due to potential antitrust concerns.

    June 8 (Reuters) - Chipmakers Integrated Silicon Solution Inc and Cypress Semiconductor Corp failed to reach a merger agreement due to potential antitrust concerns.

    Integrated Silicon said Cypress Semiconductor was not willing to take necessary actions to ensure antitrust clearance in the United States and Germany.

    In May, Cypress Semiconductor raised its offer to buy Integrated Silicon to $20.25 per share, beating Uphill Investment Co's increased offer.

    (Reporting by Kshitiz Goliya in Bengaluru; Editing by Don Sebastian)

    Sentiment: Strong Buy

  • Reply to

    Buyout target, and turnaround business outlook

    by ramking41 Jun 6, 2015 5:34 PM
    kaychen45 kaychen45 Jun 7, 2015 8:26 PM Flag

    I agree with you 100%.

    See you @ $10.0

    Sentiment: Strong Buy

  • CY can have the entire SRAM market & LLDRAM market !!!

    Sentiment: Strong Buy

  • Prior to CY law suit, GSIT had 38 consecutive quarters of profitability.

    Sentiment: Strong Buy

  • Reply to

    GSIT will be profitable if

    by kaychen45 May 12, 2015 9:39 AM
    kaychen45 kaychen45 May 13, 2015 10:38 AM Flag

    (1) get rid of ISSI law suit ASAP
    (2) win ISSI law suit
    (3) No write off
    (4) revenue between $14M to $27 M

    Sentiment: Strong Buy

  • Douglas Schirle - CFO
    At the point where we are today I can certainly tell you that at one point we had 38 consecutive quarters of profitability. Had we not had those legal fees, litigation related legal fees certainly would have been profitable for each of those fiscal years that we showed losses and probably in every quarter within those years we would have been profitable. There is one quarter where we had some inventory reserve. I believe that we would have been profitable that quarter but I’d have to check.

    Sentiment: Strong Buy

  • kaychen45 kaychen45 May 12, 2015 10:24 AM Flag

    3/18/2015: GSIT =$5.71 (Vertex tried to control GSIT board).
    5/11/2015: GSIT =$5.34

    What is the Vertex's effect ? negative or postive ???

    Vertex tried to control a compnay with only 700 K shares !!
    Just like GIG used GSIT money to buy GSIT !!!

    Sentiment: Strong Buy

  • (1) No legal expense or less than $0.5 M
    (2) write off
    (3) Revenue at least $13.5 M
    (4) Gross margin ~ 46%


    Sentiment: Strong Buy

  • Actual data of last qtr
    *********************** revenue ***** P/L ***** Litigation expense
    Q4 2015 (1-3/2015) 13.1 M ***** (2.7 M) ***** 3.5 M

    Estimated GSIT profit (loss) & Litigation expense
    *********************** revenue ***** P/L ******** Litigation expense
    Projected data
    Q1 2016 (4-6/2015) 13.5 M ***** (0.8 M) *** 2.0 M
    Q2 2016 (4-6/2015) 13.9 M ***** 1.0 M *** 0.5 M
    Q1 2016 (4-6/2015) 14.3 M ***** 0.5 M *** 1.5 M
    Q1 2016 (4-6/2015) 14.7 M ***** 1.0 M *** 1.0 M

    Sentiment: Strong Buy

  • Now the CY lawsuit is gone, GSIT still has 3 major issues:

    (1) ISSI & LLDRAM design house lawsuit: that GSIT may spend a few million dollars to fight it.
    (2) Vertex tries to control the board.
    (3) How to improve the revenue ???

    Sentiment: Strong Buy

  • The Company is currently the defendant in a lawsuit filed by Cypress Semiconductor Corporation in the United States District Court for the Northern District of California alleging that certain of the Company's products infringe patents held by Cypress and the plaintiff in a separate lawsuit pending in the same court in which the Company has alleged that Cypress has violated federal and state antitrust laws. Reference is made to "Item 1. Legal Proceedings" in Part II of the Company's quarterly report on Form 10-Q for the quarter ended December 31, 2014 for information regarding this litigation.

    On May 6, 2015, the Company and Cypress entered into a settlement agreement to resolve the litigation. Under the settlement agreement:

    � Each of the parties agreed to dismiss its lawsuit with prejudice in consideration of the dismissal with prejudice of the lawsuit brought by the other party; and

    � Each party will release all claims against the other with respect to issues raised in the two lawsuits.

    The parties agreed that the settlement agreement was entered into to resolve disputed claims, and that each party denies any liability to the other party.

    Sentiment: Strong Buy

  • All 3 market indexes are at all time high !!!

    Why not is GSIT at all time high ??

    Vertex is the source of GSIT problem now !!!

    Sentiment: Strong Buy

  • kaychen45 kaychen45 Apr 23, 2015 10:25 AM Flag

    It is a bad deal for GSIT long term investors !!!

    Sentiment: Strong Buy

  • Since vertex proposed to nominate 4 board directors to GSIT board, GSIT stock went down..
    Recently GSIT stock lost 15% stock value that is not good for long term investors.

    Sentiment: Strong Buy

3.55-0.31(-8.03%)Jul 6 4:02 PMEDT