Once they get gifted the 10% it's not going to take much to buy another 10% on market on the cheap and then once 20% is purchased make a formal offer at market value to get the 80% remaining.
Unfortunately this happens many times with T/O's, Price is bombed low or companies provide little in terms of expectations. Allow an entity to grab a good chunk of the company at a discount and then for SH who are able to stick around and take the grind low then offer the right money to buyout the remainder. Saves acquiring companies millions of dollars and the loyal SH like insiders and the instos in the know don't care because they will get their value. Would not surprise me if we get taken out in the near future. Why would you give a competitor a good chunk of your company. Seems more like a succession plan to me. Only my opinion on what I'm observing. I honestly don't mind if we get taken out as long as it's well north of $1.00.
MYX Price at posting:
35.5¢ Sentiment: Hold Disclosure: Held
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