Ann: Aconex Board Recommends Acquisition Proposal by Oracle, page-150

@$$$$$$$$ The only reason people are bailing now, is that the difference between the Oracle bid ($7.80) and the current sp ($7.71) is about 1%. So, if you sell now, you lose 1%, but if you wait till May, you lose 5 months of having your capital plus profit to reinvest. So, do you think you are smart enough to make more than 1% on your money in a 5 month window? Not really a question, is it?

There would be 2 other reasons for holding:

1. You think a counter bid will eventuate, or the sale will be blocked. The former case is immediately positive, but the latter case would see the sp fall back into the $5s in the short term (however , if you are very long, you could probably handle this).
2. You hold a lot of shares, and the commission on selling your shares now will add more cost to the transaction if carried out now, in bulk. Of course in that case, you could always just sell to the maximum allowable for a fixed fee commission, then do it again on subsequent days.

As for the performance of ACX, in my view it has been stellar. Just too many people around who totally misunderstood the business and the market opportunity.

Merry Xmas all, and a very happy and prosperous 2018.