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So it was up early this morning 8% on the news. Now it's down almost 8% why is that?
OK Buffalo I see the golf course. Still not sure what you're talking about as far as Orlando!
The increase in price of an acquisition is based on how fairly the price of the stock is traded at the time the acquisition takes place. For example look up Abbott Laboratories acquisition in 2009 of advanced medical optics. It was a 219% premium. AT&T bought Centennial communications for a 139% increase and in 2008 and Johnson & Johnson bought mentor Corporation for a 105% premium
So far the only company I see in New Hampshire is L3's insight acquisition which is their warrior division. That doesn't say anything because their security detection business is 5 miles away from Implant Sciences in Massachusetts.
That would also explain why the lawyers have not let the company put out any other sort of press release because that would drive the share price up who knows how high. Do you think the two companies trying to outbid each other would be good with that. Do you think their attorneys would allow a press release of any sort to come out. I think not.
That would sure explain why their debt has been apparently extended during this time. If this is true, we could see 1.50 easily.
Great point. PP is under a federal microscope right now. That should only help us.
I spoke to Glen a short time ago today from investor relations. The press release was supposed to come out last Friday. There were additional details the lawyers had to finalize. Call him today yourself if you don't believe me. It sounds like things will be wrapped up soon. And yes he knows no more than we do other than the status updates that the company is giving him regarding the status with the lawyers. Implant Sciences is under a shield of secrecy regarding this deal obviously.
Even if that's true, we still have no idea what a buyout price would be.
Explain/clarify further please. What do you think this really means? Thank you.
And what a surprise to all of us that Implant Sciences has been working with a mergers and acquisitions law firm. It's only been going on and announced since last January. We still don't know what terms of the deal will be. Or even if there is a deal. Hopefully we find out Monday, this is getting very old.
With a name like Turtletaub no wonder this is taking so long. Turtle is the first part of his name LOL
Good point. He's worked for both in the past! Now is a consultant!
Or maybe he was pushed out for someone more qualified or a better producer.
If he is in federal sales, it would be normal for him to reside in the Maryland DC area.
Nice Intel. Thanks.
L3's security and detection systems division is at 10 E. Commerce Way, Woburn, MA 01801. Not far away from ISC. It's about 5.4 miles up the road.
And also they have not been able to buy stock since January due to the lawyers telling them their hands are tied due to the strategic talks.
Good point, but all that really matters is when final approval hopefully hits this thing.
Great post, thanks. Hopefully we hear something today or tomorrow so this wait is finally over!
By the way, Yahoo! Finance updated their message boards. Hopefully that got rid of a lot of the BS that was going on.
I agree, well said and my thoughts exactly.
That was great insight you had earlier today. You see the news after hours!
They have no information as the company is not allowed to give them any information. They are in a quiet period legally. The company just told them that when the lawyers are ready they will issue a press release. We are trying to get them to release some sort of general statement at least to hold us over.
The contact is Glen King at 732-747-0302
I called. When the lawyers are ready the release will be issued.
Well said Ted. And I for one believe this is what exactly is going on.
Bingo. And that is what I have said for some time now.
And that is pretty much what I meant by saying the feds are involved. The TSA is in the middle of anything that would happen.
Information from investor relations.
Have you seen the delays caused by the federal government over the many several years implant sciences has been doing business with them. Who knows what the reasons are. Hopefully we find out Monday morning with positive news.
What do lawyers normally do in cases like this. In my opinion talk to the acquiring company, the Feds, and the debt holders to work out all terms of a deal. For likely Platinum reasons the Feds want xyz. Just my opinion. But hopefully it works out well for us.
Obviously the lawyers are not letting them say anything yet. I interpret that as a good sign. It's not management's fault it's the lawyers.
We may get a Monday premarket PR instead. Just being hopeful. Damn Lawyers better work overtime this weekend.
It was the huge company SoftBank Group that bought Sprint.
That was after my post. Saw those.
I see it on level 2 also. CSTI has a bid of .48 and an ask of .70. The other thing is no shares at all traded since 10:49 AM Eastern by anyone. Unless my screen is not updating properly but seems to be fine.
While I know no more than anyone else, that is my assumption also.
And the IR firm and Implant knows the frustration level we are experiencing. It sounds like their hands are tied based on the Lawyers. When whatever they are working on is done they will send out the PR.
I was thinking about Escrow also. Who knows. It's in the Lawyers hands and we know they love to drag things out to boost their income. I recommend to IR that he company at least put out a temp PR even w general info saying some sort of status. They are checking we the Lawyers to see if they can do that. Sounds like it is the Lawyers on all sides running the show.