I don't know where you get 5x from...
If a buyer offers the company $2.60/share today, you think the board of silex can reject an offer that is 100% of the current price? The price has been down at this level for a week plus now. The longer it stays here, the more "fair" a buyout price in the high $1 or low $2 range becomes.
Disclosure: I provide fairness opinions to public companies for deals like this all the time. If you really care, I can explain how the process works.
You know how many times the shareholders sue the board after the board accepts an offer that is well below most people's cost basis?....99.9%. You lose.
The only way you win is if the company can find another (higher) offer after they receive a low ball offer. Because I can tell you few boards will reject a 100% premium with no other offer on the table. It's a total breach of their fiduciary duty.
Make no mistake...this stock price is a horrible situation for long-term holders.
paradigm shift.., page-9
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Last
$4.21 |
Change
-0.040(0.94%) |
Mkt cap ! $997.2M | |||
| Open | High | Low | Value | Volume |
| $4.35 | $4.35 | $4.19 | $1.622M | 382.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10180 | $4.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.22 | 3000 | 1 |
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| SLX (ASX) Chart |