Not $4.88. But they could easily pay out a big chunk if they wanted to.
But Becker is in SDOI and its been an empty shell for a year now. They haven't paid out anything.
The Board believes that the remaining business can achieve EBITDA break-even, excluding stock compensation, amortization, accretion and other items, by September 2015.
By Jonathan Maze
Seven years ago, Sardar Biglari, at the time a little-known activist investor who had taken over a long-forgotten chain known as Western Sizzlin, was agitating for change at Friendly's Corporation. He, like many activists, poked at the company chairman's use of a Learjet, saying that it " symbolizes an ongoing culture, one that doesn't care about its shareholders."
Big apparently has softened his stance toward aircraft in the years since. And this might be why: His own company, Biglari Holdings, helps pay for four private jets, according to FAA Registry information.
Maybe this is why Becker Drapkin hasn't been buying more ? They had material non public info and could not.
Marketcap is $132 million, they are selling a piece for $150 million.
Stock should go much higher, shouldn't it ?
Well, I suspect they don't want to walk away because they have spent a lot of time & money pursuing the deal.
So maybe they would be willing to pay a little more.
But not if they don't have to.
Why bid against yourself ?
Does not say how much of a gain or loss. I presume a gain.
No afterhours trading. Would seem to be a positive to me.
How do you know bad news is coming from the closed stores ? Beyond what Gabelli knows ?
My guess is he will continue buying at least up to 19.99%.
And maybe even beyond, Im not sure if they would avoid the minority interest accounting or not.
Bottom line for me is Im not willing to risk my current position that it drops to $9. Because in the end, PBY will sell for $12-14.
Every stock he touts is.
This guy had bought 9900 shares at $9.92 on 3/12/13.
Then,exactly 18 months later he exercises options for 12,045 shares at $3.78.
in Dec 13 he exercised options for 43,455 at 3.78.
He sold 40,437 shares.
11.33 from 9.92 is just 14.2%.
He still owns 71000+ shares