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I won't be following L&C. They sold down from 2018 20% to under 13%, b4 increasing again in May 2020 on the covid drop. They supported Hall in his plans, and must have had an idea what was going on, hence the sales.
That said, if they have an idea what is going on with potential aquisitions, they are using our funds for their benifit, that does not sit well with shareholders. Whats to say they are invested in a bio, looking for a home and we can help them get out or 80% out. Not transparent. For these reasons, I will not be voting for it.
erntit,
thanks fir your comment although i got a little lost on the sort of conspiracy ramblings .
Godaddy weren’t in the registry business at all 3 years ago : they then bought Neustar and the ex neustar management are still running that division it appears .
the offer is NOT nett $100MM , it is actually $120MM plus the company has almost $10MM cash , so is in the $125-130 area .
the reason it netts down , i suspect , is because MMx has to , as I understand it , pay some of the booty to its “ partners “ on the partner based deals like .law to effectively buy them out of their revenue share agreements so the underlying asset can pass to GoDaddy unfettered .
these partner deals impair the full value of the corresponding TLDs so any deal to sell the company or assets would have to factor that in . in truth i think the meat of the amount will be on .law which was an “ expensive “ TLD to acquire and the “ partner “ put up most of the money to get it at the time .
i personally am going to vote for this as i am convinced the cash shell has a lot of value enhancement possibilities over and above the residual value of what’s left of the 8.8p so i think hanging on and taking the payout will ultimately lead to a much healthier return . i would suspect L&C who bought a bunch of shares lost announcement think so too .
If we are being sold for a net $100m, what's the chance of A another coming in and saying, do you know what, long term this is worth (per sjl) $150/180. Let's buy the company for $150m. That's 12p per share. They have next week to consider it. GoDaddy came in in December, opportunistic time. They were not in the frame 3 years ago. Call me cynical , sjl says he was suing, new CEO confirmed, March purchases, then this offer, more purchases at a price that was far too expensive 6 weeks ago. Personally, I think the offer is poor, as do most long term holders and will be voting against.