Whopper Investments
Deep value, special situations, event-driven, arbitrage

InfuSystem: MBO Off, But Value Remains

Upfront disclosure: I am long INFU. INFU is a thinly traded microcap most suitable for investors with a long-time horizon and limit orders. This article is intended only for informational purposes; please do your own research.

A few months ago, I published an article discussing InfuSystem (NYSEMKT:INFU). At the time, the chairman had offered to take the company private for $1.85 to $2.00 per share. The board rejected the offer as undervaluing the company, and I thought the chair was likely to come back with a higher offer. At the time, shares were trading in the mid-$1.70s, so it looked like a pretty interesting risk / reward.

A lot has happened since that article was released. The...

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