Very opportunistic offer for mine, almost insulting. Current...

Very opportunistic offer for mine, almost insulting. Current price is 2.7x sales. Still growing well. The board would surely have rejected this offer immediately if it wasn't from one of their biggest shareholders with a seat on the board.

I presume they are assembling this special committee to 'consider' the offer to show some respect to this company before they say no, maybe avoid a risk SQN sells down their holding from a rejection. Acceptance would be a massive failure of looking after the interests of shareholders.

Can't imagine they have other material offers in the works, otherwise we'd know about them, and if they were better, surely SQN wouldn't waste its time making an offer for a price lower than others they'd seen coming to the board informally already.

Time will tell. Let's just hope they don't screw this up.