Recomend to vote againstI pounced on this one since the original offer last Sept.
The only way shareholders can expect a higher bid by Hytera is by voting AGAINST.
The first to offer $11.50 was Privet, so they have first shot at that price in my book. Consider the only reason we are at $11.50 is because of Privet, and they are voting against. They are fellow shareholders.
By increasing the break fee, it only convinces me Norsat is worth even more to Hytera - at least $3 MM more (52 c/shr) since they think that big a barrier is needed to keep other bidders out. This break fee means Privet is essentially offering $12/shr. So by voting against, we are freeing Privet to bid at least that much higher,meaning Hytera would need $12.25 to win.
Anyone notice just over 1 MM shrs, just over what Privet holds, were witheld from the election of directors? Pretty much looks like Privet & management not fans.
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