RE: Irwin Michael's support for IAE as Top Pick Good summary except the company did not announce no bids, they announced:
that it has ceased discussions with all parties regarding the potential acquisition of all of the outstanding shares of the Company.
there is a difference. We stopped the talks, which the market should have seen as a sign of strength. But given such heavy arbitrage the stock had no support. Management needs to be proactive, play the game better, go public and get some bidding. Even if no deal is made this alone would give support to the sp. Or even better management gets a bid that unlocks the value of the company now, while shareholders can take advantage of the depresed market. I would rather $3 now than $4 in 12-18 month when markets may have rebounded.