VXS 2nd takeover for Danny Deadlock but he says price unfairDanny Deadlock who publishes Microcap.com and writes the Ticker Trax newsletter for Stockhouse, had recommended VXS to his subscribers in April near 19 cents. Last week one of his picks, MSL on the TSX, was a takeover and now VXS.
He told microcap subscribers in an update Thursday night that the price being paid for ViXS is very unfair to shareholders. He makes a very good point in stating that VXS presentations have emphasized the large patent portfolio and value well in excess of $50 million U.S.
A valuation FAR above this $20 million offer. He suggests NOT voting in favor of this takeover and waiting for a competing bid or higher exchange ratio.
I feel that senior management or the board should be replaced if this is what they feel was a fair opportunity for shareholders.