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Steel Partners Tender Offer With Guaranteed Purchase For Smaller Investors
- Investors have an opportunity to realize 4% yield in two weeks (105% annualized) by participating in the Steel Partners Holdings tender offer.
- Management considers company to be undervalued and is using this tender offer to distribute cash to shareholders and increase the value for the remaining shareholders.
- The tender offer is likely to go through at $17.5/share - for holders of less than 100 shares the purchase is guaranteed and for others will be on pro-rata basis.
Steel Partners Holdings LP - Should It Trade At 53% Discount To Its Net Asset Value?
- SPLP trades at 53% of its net asset value, most of which is in shares of publicly listed companies.
- Equity dilution through incentive units distributed to portfolio manager seems to account for majority of the discount.
- Due to lack of transparency in company fillings and rather greedy behavior by its portfolio manager the company has traded significantly below its value of its holdings and unlikely to close.
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Dec. 30, 2014, 4:28 PM
- Handy & Harman (NASDAQ:HNH) parent Steel Partners (NYSE:SPLP) currently owns 39% of JPS Industries (OTCPK:JPST) shares, and HNH is bidding for the rest for $10 per share in cash.
- Steel Partners has been working with JPS management for some time to try and buy the company or sell it to a third party.
- The stock closed last night at $6.92, and closed today's regular session at $7.46.
- Source: Press Release
Nov. 6, 2014, 6:40 PM
Aug. 7, 2014, 7:11 PM
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Mar. 21, 2013, 4:26 PM
SPLP vs. ETF Alternatives
Steel Partner Holdings, LP is a holding company. The Company is engaged in multiple businesses including diversified industrial products, energy, defense, supply chain management, logistics, food products & services, sports and training & education.
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