...why isn't NTRO trading some place near $4.15/share ?
One of life's little mysteries. At first I thought that there might have been some confusion in regard to the number of shares outstanding, though I think the real reason was that NTRO management had already rejected two previous offers from NTRO. Whatever, it now looks like they are destined to cash out one way or another:
Netro hires Goldman as advisor to mull options
SAN JOSE, Calif., Nov 21 (Reuters) - High-speed wireless technology company Netro Corp. <NTRO.O>, which recently received a takeover offer, on Thursday said it hired Goldman Sachs & Co. <GS.N> as its financial advisor as it reviews its strategic options.
Last week, Netro received a new takeover offer from Wyndcrest Holdings LLC, a private technology and digital entertainment holding company. In August, it rejected a previous Wyndcrest offer.
Netro, which makes equipment that supports Internet access over the airwaves rather than through traditional copper telephone lines, recently said it would cut its 255-person workforce by more than half, scale back its use of cash and reduce operating expenses.
Shares of Netro added 33 cents, or 12.5 percent, to $2.97 a share on midday Thursday on Nasdaq. The San Jose, Calif-based company launched its initial public offering in August, 2001, at $8 a share.
11/21/02 12:57 ET |
