I know we're all wildly excited to be sitting on our hands for another few months waiting on an outcome for VRL.
I'm hanging in there as I think there will be more to this story, personally can't see any serious downside from $2, so prepared to "watch this movie" to the end.
Annual report is due out on Monday and I for one am enthusiastic about seeing the current Top 20.
Mittleman (8.5%) has made no bones about how bad they feel the offer is and says they would potentially lead a revolt against this takeover. It will be interesting to see who holds what on Monday and perhaps start to understand how the non-VRC major holders will vote.
This time last year the Top 20 held above 81%, I'd presume it's similar at the moment.
Below was from the Mittleman article I posted earlier this month - he lists Spheria, Dimensional, Vanguard and Wilson, which along with the Mittleman holding totals 18.2%. The VRC holders are not listed and there are certainly banks in the mix (HSBC, JP Morgan and CitiCorp had 34% this time last year).
I wonder if this list by Mittleman could perhaps be construed as like minded thinkers?
Any major holders on here? Anyone got any thoughts at all?
VRL Price at posting:
$2.10 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)