That doesn't make any sense unless I am misunderstanding you. If this is an agreed upon offer to purchase and THRR has accepted the offer to sell for .01, it's done. You don't have to worry about your shares because the company has been sold. There is not a company anywhere that would agree to purchase another company for o/s on the closing date as opposed to the day the offer was originally accepted. I would think it would be based on when the offer was accepted by the board and confirmed in a pr. If what you're saying is true then the purchasing company could potentially have to pay millions of dollars more than what they were expecting. Not only that, but think of the financing issues that may arise to acquire the company especially in this day and time. Again, not bashing but just trying to understand.
PR Newswire
HANFORD, Calif:, March 16
HANFORD, Calif:, March 16 /PRNewswire-FirstCall/ --
Thresher Industries, Inc has been considering an offer that they received on March 9, 2010 to purchase their company. Subsequent to a special meeting of the Board of Directors of Thresher Industries (Pink Sheets: THRR), it was announced that the proposed offer to sell the company was approved. As stated previously, in the opinion of the Board of Directors this offer represents an extremely attractive offer with a suggested settlement that is significantly above the current market price range. Corporate attorneys for Thresher Industries have advised the Board of Directors that they can act on this offer without shareholder approval. The Board of Directors has been in contact with the major shareholders for the company and all parties have agreed with the action of the board to consent to the sale for a price of $0.01 for all outstanding shares. This is a premium price compared to the recent trading range for the company. The anticipated completion and closing of the deal could be as soon as April 10, 2010.
