RE: Kramer officialy puts an offer...This is revealing. Kramer must think he is going to lose the arbitration, otherwise he wouldn't bother with the offer. I would hope Kramer's offer circular will reveal the dollar size of the claim against him. If he skirts full disclosure, then maybe the NHC Board will finally reveal the amount. My guess was the claim was worth in excess of $3 per share, so shareholders would be better off to turn down the offer. But we have to know the amount to make a decision on tendering to the offer.
Kramer must give shareholders 21 days from the time of receipt of the documents to decide. Kramer is running out of time to get this in before the arbitration hearing. Hopefully Kramer will also disclose the date of the arbitration hearing.
The NHC Board of Directors may now invoke the Poison Pill. Which means all shareholders will have to mail them some cash to take up the rights offering, otherwise you will get diluted. Mail them some cash???? Ouch.
Maybe on Monday the company will also finally disclose how much of the insurance receivable they have collected, and if not, why not. Or if the insurance company is still fooling around, now with claims against the Palladium doctors.
I'm also delighted (ha ha) to see Goldman buying this morning. I wonder what the other side of their trade is?
Don't you just love this situation?