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Nice find GBR!
Ron Shuttleworth's price was $118
glenny, what are you talking about?
Before the announcement the sp was around the $40 price which is just about where it is not. Sure it went to $82, but that because of the announcement. So with no annoucement we'd probably still be where we are now or perhaps lower.
Sure, it's tough on those what bought following the announcement, but you can't blame the company for that.
Benefits?
Well it's given dozens of people something to talk about for months.
But on a serious note, why would you expect benefits before a sale is finalized? Do you see any benefit after you list your house but before you get an acceptable offer? No. Once finalized we'll get the benefits.
Another benefit is for people who've sold options and allowed others to buy opions after the SA announcement.
While the process is under way it makes perfect sense for the company to say nothing in order:
a. not to jeopardize the process
b. to get maximum final value
c. avoid possible lawsuits from those who might claim that the end result did not match the mid-process statements that the company may have made.
You just have to get used to waiting - or sell your shares. An option open to anyone who is unhappy.
Don't you think Evercore and Barclays have more experience than any of us in this process? I do.
The financial incentive given Barclays should ensure that they make maximum effot to get the highest possible price for the company which is clearly in the best interst of shareholders.
we're all entitled to our opinoins, but yours makes no sense.
The option seller probably received $1000 a contract, depending when he sold the options. The buyer paid the same abount for the right to buy shares at $40.
If the shares are around $40 on Friday, the option seller may have to pay out the difference between the sp and the strike price of $40 for each share sold. The buyer stands to make that same difference. The buyer will of course be a net loser as he paid $10 per share and will collect $1 per share (the option value) on closing if the shares close at $41. If the shares close below $40, no further money will be made or lost.
So yes, there is an incentive for the seller to have the share price as low as possible, but if one seller sold all the 2000 $40 contracts and the sp is $41 on closing he will lose 10% of the money he made on the sale of those options. Not too bad. He ends up making $9 per share of $1.8 millin on those 2000 calls (or 200,00 shares).
Of course it's the reverse for the buyers and sellers of put options.
Talk about selling too soon! $36 billion too soon.
http://www.bloomberg.com/news/2011-12-13/founding-apple-contract-signed-by-jobs-soars-to-1-6-million-at-sotheby-s.html
I'm sure they care, but whether they care or not the $8 millin figure cited has nothing to do with the matter. Nobody paid or will pay $8 million, except for the call buyers if they choose to exercise.
The seller of the option only pays the difference between the strike price and the sp. Talking about $8 million is misleading and erroneous.
How do you come up with an $8 million cost or loss?
If the stock price at expiry is $41, it costs $1 per share or $100 per call or $200,000 total as the shares can be bought for $41 and sold for $40. In effect the option will be priced at around $1 so again, the "loss" for the writers is the difference between the sp and the strike price.
Besides, the writers probably got $10 plus per share or $1000 per call.
What makes you think it'll come before Dec. 30?
It's actually a great opportunity to pick up some cheap options as the current sp is unlikely to influence the eventual buyout price. Great leverage today.
From the Yahoo board.
But still looks good for a juicy multi-billion bid since as we compare so favorably to Nortel.
An interesting study has been published today about the next-generation LTE patent applications considered essential for compliance with the ETSI (European standards).
The study conducted in October 2011 surveyed 1,147 of 2,999 patents, and approximately 55% of them matched the LTE essential patent standards.
The top Companies are: Qualcomm, followed by ZTE, Ericsson, Interdigital, NTT DoCoMo, Samsung, Nokia and Huawei.
From the published charts I noticed:
Percentage of declared number of Essential patents by Company:
Interdigital: 9.8%
Nortel: 1.1%
Number of mandatory patents declared by Company:
Interdigital: 295
Nortel: 34
PS According to the Jeffries analyst (after interviewing the Nortel bidders) it was these patents (4G LTE) that they were the most interested in. I'd think we should get at least double the 4.5 billion that Nortel got. Maybe the bidding is more enthusiastic than we have any idea.
I hope you are right. On the other hand it may make it less urgent for Apple to capture IDCC.
This Apple deal doesn't sound like good news for us.
Apple loses to Samsung in Australia.
http://www.bloomberg.com/news/2011-12-09/apple-loses-bid-to-extend-samsung-electronics-galaxy-tab-ban-in-australia.html
I ddin't say he'll tell you anything, but you can at least tell him how you feel. Better than telling IR. That's what he wanted to do.
If somoene wants to send a message to the company call the CEO and tell him how you feel. At least that way the message reaches the right person.
If you just want to vent your frustration, kick the dog.
Why would there be a hostile bid since all interested parties, I presume, are welcome to participate in the current process?
Every company's management gives itself bonuses every year. What else is new? They did get the share price up to $82.
You didn't answer my question. What do you base your firm conviction that there will be no sale, other than perhaps wishful thinking.
Ellis, you base your conclusion on what, exactly?
Nicmar, what indications do you think we'll have the day before the announcement of a deal (whenever it comes)? None.
So the fact that it's gone on for five months gives no hint as to when this may conclude.
It could be tomorrow, months from now, or never. No way to tell.
I'd say that the fact that it's gone on for five months suggests that there is something promising on the horizon otherwise they would have ended the process.
The IDCC Board will not have this problem!
BUYOUT - SHAREHOLDER LAWSUIT 3-Dec-11 05:00 pm
FYI....In case anyone else is interested
Tripp Levy PLLC Investigates Buyout of SuccessFactors
NEW YORK , Dec. 3, 2011 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, is investigating the Board of Directors of SuceessFactors, Inc. (NYSE: SFSF) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to SAP. Under the terms of the transaction, SuccessFactors shareholders will receive $40 per share.
The investigation concerns whether the SuccessFactors Board of Directors breached their fiduciary duties to SuccessFactors stockholders by failing to adequately shop the company before entering into this transaction and whether SAP is underpaying for SuccessFactors shares, thus unlawfully harming SuccessFactors stockholders. In particular, at least one analyst set a price target of $45.00 per share of SuccessFactors stock.
If you own common stock in SuccessFactors and wish to obtain additional information, please contact us at 877-772-3975 or email at contact@tripplevy.com
Nothing new for weeks.
What's more important is the number of days of average volume trading to cover the short position.
For Nokia it's 2.5 days. For IDCC, just over 5.
Can IDCC not inform the market that they've agreed to a bid subject to DOJ review and simply wait for the DOJ's repsonse before making any announcement?
Nikkei up 1.6% at the moment. We may have the start of a recovery starting.
http://e.nikkei.com/e/fr/marketlive.aspx
From Bloomberg.
Asian stocks (MXAP) advanced for the first time in four days, U.S. equity-index futures climbed and the euro strengthened against the dollar and yen amid speculation European policy makers are taking steps to stem the debt crisis and as America’s Thanksgiving retail sales jumped to a record.
Thanks olddog. Now the big question. How long do the FTC and the DOJ have to voice any objections they may have?
Could one of the parties to an agreement seek DOJ opinion before the final round bids are made to clarify the likelihood of eventual DOJ approval?
You'll need super-duper intelligence to understand this conundrum or read some previous posts that have already tried to answer this.
Nothing is a foregone conclusion. We could hear tomorrow as easily as a day in February or March.
Well put SC.
nicmar, I posted yesterday what you pm'd me (here or on yahoo).
nicmar, just read the last quarterly report. That's all the info we have on most companies. Read analyst recommendations and projections.
Next quarter will be no worse.
Not much better if you bought shares over $45.
Good time to buy December or January out of the money calls. Jan. 70s are only $1.25
No downside, (except the premium) and big upside. A sale at $100 before Jan. 17 gives you a 25 bagger.
ABXX. I don't believe the article implied that the process was going slowly for HTC or other Asian companies, but simply that the process was going slowly. Big difference. You added the "THEM".
You clearly can't think logically. If HTC were leaking that the process is failing, that will push the price down and possibly allow the successful bidder to get IDCC get the company for less than otherwise.
Now why would HTC want that? They wouldn't.
If they were to leak anything it would be that the process is going well with prices much higher than expected.
That'll perhaps force up the price and make one of their rivals spend more than necessary.
Now THAT makes sense whether I'm a penny stock trader or otherwise. Attack the argument not the person, if you are capable.
Why would any company out of the chase dump on IDCC and possibly make it less costly for their competitors to buy the company for less than the maximum possile price.
Don't see it happening.
My3Sons - exactly my point.
Have they heard anything of the process NOT continuing? I doubt it.