New Ireland Fund has a market cap of $57 mm; Bulldog is a 6.31% owner. ITEM 4. PURPOSE OF TRANSACTION The filing persons are concerned about the Fund’s persistent discount. They may communicate with other shareholders and with the Fund’s management about this matter.
(See earlier post dated 5/12/11 on Forest Oil’s Lone Pine spinoff.) Lone Pine Resources Inc.’s initial public offering of 15 million shares priced at $13 each. The Alberta-based oil and gas explorer, formerly known as Canadian Forest Oil Ltd., said in December it planned to raise up to $375 million in an IPO to help…
Bitstream Inc (BITS) has a market cap of $62 mm and an EV of $50 mm; Columbia Pacific Opportunity Fund owns 19.55%. ITEM 4. Purpose of Transaction Based on recent developments in the company, including operational improvements and changes in senior management, Columbia Pacific is now exploring a potential transaction to acquire the outstanding shares…
Earlier today, California Pizza Kitchen (CPKI) agreed to be acquired by Golden Gate Capital for $18.50 per share. Clinton Group owns 5.1% of CPKI shares. Item 4. PURPOSE OF TRANSACTION. The Reporting Persons acquired the Shares for investment in the ordinary course of business. The Reporting Persons believe that the Shares at current market price…
Sino has a market cap of $63 mm. XI’AN, China, May 25, 2011 /PRNewswire-Asia-FirstCall/ — Sino Clean Energy Inc. (Nasdaq:SCEI – News) (“Sino Clean Energy,” or the “Company”), a leading producer and distributor of coal-water slurry fuel (“CWSF”) in the People’s Republic of China (“China”), today announced that the Board of Directors of Sino Clean…
Versant stock is trading at $12.85 with cash of almost $8 per share and no debt. It has a market cap of $41 mm; Andalusian owns 5.1%. Item 4. Purpose of the Transaction The Reporting Persons acquired the shares of Common Stock for investment purposes and, except as described below, do not have any present…
PARSIPPANY, N.J., May 24, 2011 /PRNewswire/ — Jackson Hewitt Tax Service Inc. (“Jackson Hewitt”) (OTCQB: JHTX), the nation’s second largest tax preparation firm, today announced that it has reached a definitive agreement with its secured lenders on a restructuring plan that will significantly reduce the company’s outstanding debt and interest expense, while putting the company…
EP has a market cap of $14.6 Billion and an EV of $29.2 Billion. El Paso Corporation announced today that its Board of Directors has granted initial approval of a plan to separate the company into two publicly traded businesses by year end 2011. Following the completion of the proposed spinoff, El Paso Corporation will…
ChinaEdu (CEDU) has a market cap of $104 mm and an EV of $55 mm. The data is as of December 2010, the last published financials; See earlier post dated 4/26/11. May 23, 2011 Board of Directors ChinaEDU Corporation Gehua Tower, Fourth Floor – A Qinglong Hutong No. 1, Beijing 100007 PRC China To the Board…
SYMS has a market cap of $106 mm; Co-incidently, I used to work one block from the 42 Trinity Place building mentioned in this article. It is a decrepit structure but located in a very desirable location in Manhattan. In the three years I spent walking past it twice a day, I never saw a single soul walk…
Manchester owns 9.2% of VRML; See earlier posts dated 5/19, 5/13, 5/1, 4/21, 4/20 and 4/18, 2011. May 20, 2011 To my fellow shareholders, Yesterday, multiple shareholders that I know received robotic calls from a proxy solicitation firm asking them to vote their shares in favor of management at the June 6th meeting. Not only does…
DEERFIELD, Ill.–(BUSINESS WIRE)– Fortune Brands, Inc. (NYSE:FO – News) today announced a definitive agreement for the sale of its Acushnet Company golf business, featuring the iconic Titleist and FootJoy brands, to a group led by Fila Korea Ltd., the owner of the Fila brand globally, and Mirae Asset Private Equity, the largest private equity firm…
CCUR has a market cap of $56 mm and an EV of $27 mm; Skellig owns 6% of the shares; See earlier posts on CCUR dated 2/24/11 and 9/28/10. ====================================================== The Shares held by the Reporting Persons were acquired for, and are being held for, investment purposes by the Reporting Persons. The acquisitions of the Shares…
OPTI, with a market cap of $23 mm, is a potentialliquidation (see earlier post dated 1/29/11). 509 Madison Avenue, Suite 406 New York, New York 10022 Tel. (212) 297-2555 Fax (212) 297-2550 S. Muoio & Co. LLC May 18, 2011 Mr. Bernard T. Marren Chairman of the Board OPTi Inc. 3430 Bayshore Road, Suite…
Manchester owns 9.2% of VRML; See earlier posts dated 5/13, 5/1, 4/21, 4/20 and 4/18, 2011. May 19, 2011 To my fellow shareholders of Vermillion, Inc. This morning’s appointment of a seventh member of the board of directors marked another low in the current management team’s attempt to stay in the executive suite at the…
Keystone Consolidated (KYCN; market cap $102 mm) filed an S-1 today – here is an excerpt: We are distributing, at no charge, to holders of record of our common stock, non-transferable subscription rights to purchase an aggregate of up to 3,025,483 shares of our common stock for an aggregate subscription price of $[•]. We refer to…
The headline of our post (below) from yesterday was incorrect. PL Capital Points to 58% Price Drop Tuesday, May 17, 2011 (PL Capital owns 8.3% of FFFD which has a market cap of $22 mm) Item 4. Purpose of Transaction This is the PL Capital Group’s first amendment to its initial Schedule 13D filing. The PL…
FXCM, which went public in December 2010, has a market cap of $160 mm, cash of $202 mm and no debt. NEW YORK–(BUSINESS WIRE)– FXCM Inc. (NYSE:FXCM – News), a leading online provider of foreign exchange, or FX, trading and related services, today announced that its board of directors has authorized the repurchase of up to…
(PL Capital owns 8.3% of FFFD which has a market cap of $22 mm) Item 4. Purpose of Transaction This is the PL Capital Group’s first amendment to its initial Schedule 13D filing. The PL Capital Group acquired shares of Common Stock because it believes that the Common Stock is undervalued. On May 13, 2011, the Common…
(JMB Capital is a 10% onwer; See earlier post on AEPI dated 5/13/11 in which KSA Capital suggested that the Co go private) The Reporting Persons originally acquired the Shares because they believed that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. The Reporting Persons intend to continue to review…