"SFAM can be had for a song"
I suspect it can't be had for a song. I think there are alot of shareholders holding over in the teens still. More importantly, high number of options held management are still underwater. Further, VChairman Farley, who built SFAM up before it bought out IPEC, has not really unloaded much of his shares to date - even when it was in its 50s, 40s, 30s, or even 20s. The key to look for is NVLS's CEO R. Hill changing his status on SFAM's Board.
Pricing of a buyout will not likely be based on sales in a downmarket, but the strategic value it might bring to NVLS, rhaps necessitated by AMAT's full range of front end tools, including CMP.
Also, I highly doubt SFAM will be purchased for cash, if/when it is bought out, it will invariably be a stock swap.
Just one man's (and SFAM shareholder's) spin.....SemiBull |
