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 …
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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?
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