I've looked at a great deal of Greg Farrell's writings. Ebix seems to be the only small cap that he writes about and continues to write about. Most of his other articles are about well known companies that are in the spotlight or have more interest to the public How he picked, found, or was led to Ebix is questionable.
You must have been stockbillionaire at some point before you gave out advise. Too bad that Yahoo doesn't know how to control spam.
So some employee or employees made copies off of the master copy and are either using them for personal use or selling them on the black market. Microsoft doesn't have a tracking system which tracks how many copies Ebix is using? I doubt it.
Their worse case scenario is another offer. Then things could get out of hand for them. Greg Farrell's article was timely to bring down the price and possibly curtail any new offer. Nice work on his part. Either he is part of the scheme or he is irresponsibly reporting what shorts are feeding him.
Can it be tied to the Senate bill that will freeze student loan interest to 3.4% for the next two years? Republicans have signed on to Obama's proposal to keep the interest low. Otherwise rates double on July 1. I see news about it on Monday with the committee decision maybe settled next week with a vote shortly thereafter.
Did you get thous $1.90 shares? I didn't. Your advice is sooooo disappointing. Maybe tomorrow.
Acquisition bonuses are supposed to safeguard the CEO in a hostile takeover and not enrich him in a LBO. Raina is using it to take Ebix private at lower share price cost for the acquirers, including himself.
Maybe because of the 45 day shop period, but the executives can't solicit votes by saying nothing, and this clause is effective:
Participants in the Solicitation
The directors, executive officers and certain other members of management and employees of the Company may be deemed “participants” in the solicitation of proxies from stockholders of the Company in favor of the proposed Merger. Information regarding the persons who, under the rules of the SEC, may be considered participants in the solicitation of the stockholders of the Company in connection with the proposed Merger will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. You can find information about the Company’s executive officers and directors in its Annual Report on Form 10-K for the fiscal year ended December 31, 2012.
He doesn't have guts enough to come out from hiding to justify $20. If he had justification, he could have done a quarterly conference call. It would have been interesting to see the questions posed to him.
I don't have many shares, less than 1K, but every penny is important to me. I keep tabs on all my investments, large and small. I have my financial goals to achieve. I don't trade much, and I intended to keep my shares even longer than any other of my investments, a possible forever investment. I had high hopes for this company's progress in consolidating the small players. I'm never happy when I'm forced to sell anything and I wouldn't be happy at either $24 to $28, but I might have voted for it at those prices. At $20.00, my vote is NO, NO, and again definitely NO. Raina's actions are unbelievably unethical to all the people who supported him; he turned his back on them in a selfish move. I support people with ethical behavior and I can't support him anymore. I'm not overly vindictive and could even forgive the shorts, but I'd like to tar and feather Raina and run him out of town on a rail. He may have built up this company, but it isn't his to take. He's not selling at $20 per share; he's buying our shares at $20 per share and hopes that everyone will silently go away.
That's not all arbitrage; shorts are screwing around with the price to keep it low.
I would still be very disgruntled at $23, but I may have voted for it. This $20 price seems to have been agreed upon because of the capital structure of the LBO and not upon the true value of the company. It appears that Raina didn't want to take on too much company debt and GS didn't want to fork out too much capital.
Raina should have hired one of the Big 4 auditing/accounting firms long ago instead of going cheap and hiring smaller lesser known accounting firms. That was the biggest basis of the short attacks. There's a big difference in being frugal vs cheap.
And how about the possibility of bankruptcy? High debt, higher taxes for the future, and no or limited cash flow for acquisitions could lead to Ebix's downfall. Many LBO deals of the past ended in bankruptcy. Raina could lose everything.