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Strategies & Market Trends : Value Investing

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To: Elroy who wrote (73188)7/27/2023 1:33:19 PM
From: E_K_S  Read Replies (2) of 78940
 
Re: SIMO - Form 6K filed

“MaxLinear’s eleventh-hour purported termination of its merger agreement with Silicon Motion is invalid and reflects a repudiation of MaxLinear’s obligations rather than any failure of Silicon Motion’s conditions to closing. In the 15 months since the signing of the merger agreement between the parties, Silicon Motion worked cooperatively with MaxLinear to obtain regulatory approvals for the merger, Silicon Motion complied with its obligations under the agreement and Silicon Motion has not suffered a material adverse effect. Silicon Motion expects MaxLinear to abide by its obligation under the merger agreement and intends to vigorously enforce its rights under the merger agreement.”
Started a small position in SIMO at $53.85/share. 13.5 PE; no debt; Should get at least the $4.81/share break up fee if not more from any future litigation
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