Well, they now own over 5%, but I have no idea whether this is more than they possessed as a result of the merger.
If someone can find signs of accumulation then one could suspect a take-over as a possibility, but I hardly think it will be at this price. Charter could be on the prowl since, if I recall correctly, they went out and issued some more bonds.
But if INSP doesn't deliver on earnings come Monday, this stock situation could get ugly and leave Jain in a forced sale position..
Just pure speculation on my part... but it would fit with Allen's "wired world" concept, and in such a situation, Horowitz's departure as an officer would remove any conflict of interest.
But don't anyone go and get grandiose schemes of a $40 takeover... Insiders have been selling like there is no tomorrow.. Maybe they saw the handwriting on the wall and were showing their disgust at Jain.
I might be a little harsh on the guy, but from what you all have told me, and the idiocy of the way they handled the merger, it makes me wonder just a bit.
But I can be pretty confident that GNET employees, who have poured their heart and soul into following Russell on this venture, can't be happy. And without their expertise, Jain is screwed to the point they he will need someone to bail him out.
Regards,
Ron |
