Peter,
I guess you know it by now that Tsang & his backers offer
to buy-out OAKT.
biz.yahoo.com
"..Oak Technology Confirms Receipt of Buyout Proposal
SUNNYVALE, Calif.--(BUSINESS WIRE)--Nov. 18, 1998--Oak Technology Inc. (the
''Company'') (Nasdaq:OAKT - news), a provider of high-performance semiconductors for the optical storage, consumer
electronics and digital office equipment markets, today announced that it has received a proposal from David D. Tsang,
chairman of the board and chief executive officer of the Company, to acquire all outstanding common stock of the Company for
$4.50 per share in cash...."
Well, I have to say I admire Tsang's brilliant move. The Streets has been too harsh on the smaller
fabless semiconductor companies in the Silicon Valley. When these fabless companies show good earnings, they became the
favored son. When they encounter the cyclical slum, they were punished to below book value.
I don't blame Tsang and his backers at all. If anyone believes in the company, they can do whatever
they want to do. This is free equity market anyway, isn't it? |
