2m bidder, page-8

PHE, I think you 're right and wrong when you say "
Shareholders selling now are very short sited in my opinion, there was no premium built in for a Tibotec deal,".

- It may be true that the future sp of AVX is based on the AVX fundamentals and future revenue...

- But the sp of any listed company will be influenced by the quality of its management and, so far, the credibility (based on track record) of this management, especially in the deal making area, is pretty ordinary. Which is why I can easily understand why some shareholders were disappointed and sold. Once again, we may have the best product in the world, but if the management of this company can't set up a proper commercialisation it will fail.

Was still good to hear this from JC. Next time you catch up with him, don't hesitate to ask him about the following:
- why mentioning future conflicts to explain Tibotec's decision not to go ahead ? the market would have preferred hearing about J&J background issues.
- what about the timeframe of these deals ? If we are at the DD stage, JC should have a fairly good idea of when a deal could come through.