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.
SLX Price at posting:
$1.31 Sentiment: LT Buy Disclosure: Held
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