I Think Managment Should Accept A Take-Over Offer of $50+
Like many on this board, I believe CXR is significantly undervalued. The problem is, the market seems to insist on viewing CXR in the same light as VRX. Though this is very unfair, it seems that CXR has been punished for the sins of VRX and I'm not sure if things will change anytime soon. Given that new VRX CEO Joe Papa recently stated that it's going to take a few years to remake Valeant into a strong, stable operation (provided he can actually deliver), perhaps CXR is destined to continue to be painted with the same brush as VRX going forward (Sure, CXR has a significant amount of debt, but nowhere near the mountain that VRX is dealing with).....Consequently, I think it probably would be best to take CXR private where it would be out of the public eye where it has been in the crosshairs of shorters, knee-jerk reaction investors, etc......I understand Apollo submitted a final round bid for CXR (don't know if there are any other interested parties), but if their bid was for the cash-equivalent of $50 or more per share, I think this would be a reasonable offer, and I would hope the CXR Board accepts it and recommends it to shareholders as a friendly takeover offer.....Shareholders can then vote and have their say as to whether the offer is acceptable to them......