There has been an unwanted bid for Qualstar, a small tape products and power supply vendor, with an activist investor wanting to drag the company into his vision of a profitable enterprise. Steven Bronson and the BKF Capital Group, which he controls, are bidding $1.65/share for 3 million shares, valuing their bid at $4.95 …
Title too long
Qualstar said it had $19.6 million of cash, cash equivalents and marketable securities at the end of the quarter. For Bronson and BKF to bid $3.5 million and get influence on that looks a good deal
So he's buying $19,000,000 with less than $4,000,000. Nice work if you can get it. Where's that carpet bagger icon I asked for?
- Review This is why we CAN have nice things: Samsung Galaxy Alpha
- MEN: For pity's sake SLEEP with LOTS of WOMEN - and avoid Prostate Cancer
- Ex-Soviet engines fingered after Antares ROCKET launch BLAST
- Hate the BlackBerry Z10 and Passport? How about this dusty old flashback instead?
- Apple spent just ONE DOLLAR beefing up the latest iPad Air 2