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TheCompleatAngler

TheCompleatAngler
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  • Dude, You're Not Getting DELL...Or AUTO [View article]
    Rangeley became a 13D filer yesterday.
    Apr 12 03:19 PM | Likes Like |Link to Comment
  • Dude, You're Not Getting DELL...Or AUTO [View article]
    In situations like Auto's where there is a compelling rationale for shareholders to feel aggrieved about the pricing of a deal to sell a company, are lawsuits seeking class action status to either derail a deal or else improve its terms for shareholders, such as the one recently filed against Auto, constructive? I am skeptical that they are because I think shareholders have other better options for accomplishing the same: by their ability to communicate directly with the BOD, by their vote, and by their ability to be proactive with proxies if need be. I accept that such lawsuits might help protect minority shareholders if there were no shareholders with significant holdings outside of management and related parties, but this seems to be rarely the case. Any thoughts?
    Apr 10 02:27 PM | 1 Like Like |Link to Comment
  • Dude, You're Not Getting DELL...Or AUTO [View article]
    Two questions:

    1. Regarding the Icahn bid, would the special dividend be in full or in part a return of capital? This issue is obviously critical to holders, such as I presume Dell unless all his Dell stock is tax protected, which I doubt, who are tax sensitive.

    2. Is Dell's support critical to the winning bid, as some appear to have assumed?
    Mar 28 12:57 PM | 1 Like Like |Link to Comment
  • Dude, You're Not Getting DELL...Or AUTO [View article]
    Do you have an idea what IRR Silver Lake might be targeting? I don't know how PE prices deals these days. 20%? And whatever their target IRR is, I wonder how much they can afford to pay in order to achieve it. There does, of course, have to be an acceptable profit for any Dell buyer in order for a deal to happen.
    Mar 27 09:48 PM | 1 Like Like |Link to Comment
  • Dude, You're Not Getting DELL...Or AUTO [View article]
    I like the way Blackstone has presented its bid. Blackstone has succeeded in establishing its offer as superior to Silver Lake's, yet its value is indefinite, posing a conundrum to other bidders who don't have a clear idea of what they need to beat in order to win. In fishing as in war and many other things, keeping the fish, or the enemy, disoriented creates an advantage, and I believe that Blackstone has done this. Blackstone's offer implies that it is not done bidding. The onus is on Silver Lake.
    Mar 27 02:11 PM | 1 Like Like |Link to Comment
  • Dude, You're Not Getting DELL...Or AUTO [View article]
    I'd be interested to hear if any consensuses are forming about this deal among the group of large holders you refer to, now including Rangeley it appears, if you can share; if not, I understand.
    Mar 19 02:45 AM | 1 Like Like |Link to Comment
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