Delcath Systems, Inc.NASDAQ
Sep. 17, 2014, 1:38 PM
Sep. 15, 2014, 10:42 AM
- Shareholder Linkedto Partners says two NASDAQ-traded firms have approached it about a merger or buyout of Delcath Systems (DCTH +4.3%).
- Linkedto has the support of 4.9% of DCTH shares. It is calling for a sale of the company as a means to unlock shareholder value. Last week, it upped its non-binding offer to $3.00 per share.
Sep. 11, 2014, 4:31 PM
- Activist shareholder Linkedto Partners says it and its allies now control 4.8% of Delcath Systems (DCTH +0.4%) common stock. In conjunction with recruiting support, it recently sent communications to each board member regarding the company's underperformance and the need for a sale.
- Linkedto also states that it has become aware that the BOD has had discussions with potential acquirers, including Medtronic, over the past few years about a potential transaction.
- The market remains unconvinced. Shares were up a fraction today on turnover of only 15.5K shares.
Sep. 9, 2014, 10:40 AM
- Delcath Systems (DCTH +0.4%) shareholder Linkedto Partners raises its unsolicited non-binding offer for the company to $3.00 per share. Yesterday, its offer was $2.90. This past Friday it was $2.85. At this rate, Delcath can continue to ignore Linkedto's overtures and expect to get a $6.00 offer by mid-October.
- Linkedto controls less than 1% of the stock so it is highly unlikely to make any progress until it can corral a large enough stake to get management's attention.
- Considering DCTH's current price of $2.38 (unchanged), the market is not regarding the action seriously either.
Sep. 5, 2014, 10:43 AM