RE:RE:Circular re OfferI think the only chance for an upside move from here is a competing bid from another firm. It is possible and it can happen any time prior to March 22. If that occurs, Motorola Solutions will have to decide whether they want to match or go higher.
If we get to the special meeting without such an offer, then you have the choice to vote “yes”, “no” or abstain. I hope you are involved, voting yes or no.
Voting “yes” implies the voter’s belief that the offer is higher than the present value of the firm on a standalone basis. Voting “no” implies the opposite – that the offer is insufficient and the value of the standalone firm is greater.
If enough vote “no” and the offer fails, my guess is that the price would settle lower than $27, with the prospect for future growth that may or may not exceed $27. If Motorola Solutions is rebuffed by shareholders, they will have to decide whether they want to come back with a better bid.
Just over 3 weeks until shareholders have their say. I intend to wait. If Motorola is the only offer, I do not think shareholders will reject it, especially when it appears that Fernandes is moving on. I think the worst one can do is $27 with the probability (albeit low) that there will be a better offer.
I even bought more shares at $26.85 with my idle cash. I think of it this way. If the deal completes say by May 1 (63 days hence), the 15 cents per share is better ROI than I am presently getting for cash. Upon completion, I will move the proceeds from my latest investment back to cash. If a better offer appears, my return explodes.
I received my voting forms today. The instructions state that online votes should be received one day before the proxy deposit date (March 20). I will note vote until March 18 or 19. It is unlikely a competing bid will be received after that date.