RE:RE:RE:Xandar Capital says to reject the offer!There is a publically traded holding company, AVARGA, out of Singapore which owns/controls 70+% of TBL shares. A sitting BOD (Dr Tong) has launched what could be deemed now (in light of the fairness commitee opinion saying the price is too low) a hostile take-over offer for AVARGA.
If he is successfull with AVARGA, he will now be in a position to make a move on TBL itself. Ask yourself why TBL needs to sit on $1.70 ish IN CASH with the stock trading below $4??? He could offer a premium all the way up to $6 to buy the roughly 30 million TBL shares outstanding and take TBL wholly private and in doing so reap TBL's cash hoarde to pay for the takeover so net, net won't cost him a cent. Meanwhile this consistant, almost bullet proof cash generating machine known as TBL is gone forever....dwdc