Wednesday, May 13, 2009 0 comments ++[ CLICK TO COMMENT ]++

Mathstar receives unsolicited bid

GreenBackd reported yesterday that PureChoice is offering to buy Mathstar for $1.04. This is way below the liquidation value—my guess is around $1.3—and I hope management and other shareholders don't pursue this deal. There is no reason to accept anything widely below the liquidation value given how there is very little to liquidate and most of the value is residing as cash. The share price has jumped and is trading close to the offered price. I had been trying to increase my stake in the last few weeks but haven't had much success (maybe I'm too greedy and bidding too low of a price?).

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