I've been reading this board for a few months ( I'm going to miss the good exchanges when the dust settles )
From page 19 Avenex excluding ER ---Assets 359 M minus Liabilities 120 M = 239 M
239 M divided by 55 m shares outstanding = $ 4.34 book value. ( as at Sep30, 2012 --excluding ER )
I voted No for the following reasons:
1- Management must be held accountable for their actions ( not rewarded )
2- There are lots of other opportunities for smaller acquistions given low market values of competitors.
3- I can't wait to see the YouTube video of insider Joe and his cowboy hat !