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Chinese Investment in IDTI +2
An amended 13D removes the $32 per share offer. More likely that is the strike price of the 3.6M November 2016 calls owned by the principal party. My take is that this does represent a legitimate investment in IDTI, and possible takeover interest. It is unclear however, if the initial filing was the result of fraudulent intentions, or a mistake.
I continue to be positive on the stock and may publish an SA article on the event and IDTI.
On 04/12/2016 12:41 PM, Esekla wrote:
Here is the 13D for the bid, however I am seeing that many traders are suspicious of its legitimacy. To me, it looks quite plausible. Though there might be regulatory concerns Europe might be easier on such a deal than the U.S. and this does show the value of the company's IP.
Management has responded with "no comment", but I have heard in the past that board was receptive to a sale. On the other hand, we have seen fraudulent filings before, and the offer price is pretty high.
On 04/12/2016 12:22 PM, Esekla wrote:
Well, that seemed to be a timely opinion on IDTI. The rumor is that there is a $32 per share cash bid on the table, but I can not confirm or deny that. More as it becomes clear.