Exceed Company, Ltd.: A Merger Deal with Limited Upside and Significant Downside Due to Likelihood of Deal Breaking
Summary: The purchase of Exceed Company, Ltd (NASDAQ:EDS) by Shuipan Lin (Chairman and CEO) and other current investors has been a bit perplexing since the investor group made its initial offer. Recent events lead me to believe that there is a significant risk of this transaction not being completed. I believe that investors should either avoid holding these shares or be short them.
Background: Exceed is a Chinese company that designs and distributes sportswear (including footwear) and appeal products in China.
Timeline of Events and Analysis: On August 17, 2013, Exceed received a non-binding proposal from a group of...
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