Companies can buy back shares and I hope it would be below book value. However, to buy entire company, aka, take it private, they must go by book value. I suppose if no one complains it might go through. The companies that do the valuation are paid for by the company, so biased by what the company tells them they want to get it at. But, in the 1980's I was involved with a company called Shelter Corp. their parent BorSon Construction tried to take it private, but was sued by a broker working with me. The judge agreed that BorSon must pay at least book value. Happened again in early 2000's with VINT, a Napa Valley vintner. I threatened to sue based on the other case and the bid was raised almost $3 to get above BV. If you can find old insider records for CCOM, you will see one name buying tons. I don't know his relationship to company but my guess is he would not like getting bought below BV. I would love for management to actually do something for shareholders and start buying back stock down here. But they seem happy with their paychecks. I continue to accumulate.
T
