RIP OFF!$1.20 Cash - Are they kidding???
A 20% premium to a stock whose price keeps going up each week??
This is the most blatant and predatory takeover solicitation I have every seen. CA Bancorp has a book value of approx 2.50 per share in companies they can sell off / wind out into the market EASILY over a year or two.
Next year CA will be earnings positive and they've already stated they'll be selling some of their private companies and meaningful gains.
Maxam is trying to bag this one before the price gets too high and realized the value for themselves. This offer should be resoundingly REJECTED by all shareholders. Its a rip off and insulting.