Great post. And agree it is undervalued and would be a potential target. I think the STX and Regal holdings at least provide some pathway through which an outsider could wrestle control over the company.
Unfortunately the self interest and large holdings of the two largest shareholders is also the biggest impediment to a takeover. They've got so much control and have already rejected a very fair merger proposal from STX, so potential predators might not even bother. Also, why would the MD want to give up his plum 600k a year?
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