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Originally Posted by chipchip
reading some more info on and and a certain lloyd i. miller III has bought about 9.4% of shares now. Hes some kind of corporate raider.
seems like it could be pretty +ev to gamble on this now? Also anyone any idea what happens when the 15 million shares of grande holdings are sold in that liquidation thing? They just get thrown on the market? Or will they find some hedge fund to buy them. Seems like free money if some hedgefund, or someone like mr miller buys them. Except ofcourse if its gonna take another 3 years. But it seems like the main hold up was deutsche bank holding like 12.5% of grande's stock as collateral. Which they have given back this year.
Yeah, that guy looks like one hell of an activist shareholder for that and the other companies that he has bought into.
After looking more into this, I think you are right. When Grande's majority control goes away, then the activist shareholders will send this thing flying, or Grande's shares will be hopefully sold to a more shareholder friendly entity.
It's pretty much a matter of time at this point, but the question is how long will it take and how much value will be lost in the meantime. Plus they have some IRS and other litigation matters that they have to handle first, and it looks like the next quarterly report is going to suck because Walmart cut their microwave products. So who knows how long that will take; it could take months or years.
Guess I'll wait until the next quarterly report and hope it sinks on the bad news. Ideally I want to get in at around October when all the window dressing from the funds takes place, which could send this lower. Hopefully Grande won't be forced to liquidate it by then.