I wonder how many other people were like me and saw the buyout...

I wonder how many other people were like me and saw the buyout multiple and then thought - what a rip off?

On second or third reading, the buyout is only an option for LS after cumulative quarterly service fees of $US45m. That won't likely happen for a few more years. By then, hopefully the volumes will be a lot higher which means the final lump sum fee will be a big number. WHTM (for what it's worth) estimates a figure of US$50m in 2017 which is about twice the current market cap.

So if people are selling down because they're worried the quarterly service fees can be bought too cheaply (which I nearly did), then perhaps it's worth a second look.

If you add the potential for the Siemens product to take off in the next few months ,then this is a bargain.