Ann: Casa Systems and NetComm Recommended Transaction, page-138

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EduG

3 Posts.

26/02/19

21:08

Post #: 37578020
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Originally posted by imback: ↑

I suspected they did delay as long as they could and try to push them to increase offer as well as try to get other offers. But that would have been difficult given no one else was knew the company was on sale and it takes a lot of time and resources for another company to get to a stage of reviewing the books, understanding how a buyout would be beneficial and going through all the internal protocols to eventually come up with a bid. Without a competing offer it would have been difficult to extract more.

They could have just said no and walked away. I think this is why many here think no one in the Board or execs want to run the company. It's just an easy exit strategy. Given only one Board member owns any significant stock out of all BOD and management, there is no issue for them to undersell the company.

Let's not forget this Board has never been interested in dealing with investors. The Chairman's response to difficult questions in the past was to 'sell your shares'.

This is a perfect exit for them. Can't comment on specifics re golden handshakes at this time, but that is a fairly standard practice in TO's for those who are not part of merged company.

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Possibly management realized that their business with AT&T, Nokia, etc is not going to get realized. Lots of wishful thinking, not experienced with dealing with big customers beyond their local market. They must have realized this already some time ago. Hence the acceptance of the Casa offer makes a lot of sense: they would not be able to get a better price for their stock anymore.

NTC Price at posting: $1.07 Sentiment: Sell Disclosure: Not Held
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Ann: Casa Systems and NetComm Recommended Transaction, page-138

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